CEO Characteristics and Risk-Taking Behavior: Statistical Evidence from Saudi Arabia
Bibliographic record
Abstract
This paper aims to capture the impact of CEO characteristics on corporate risk-taking behavior in the emerging stock market, namely the Saudi market, by analyzing data from 43 firms listed in TADAWUL from 2016 to 2024 using a quantitative method through two statistical models to examine how a CEO’s power, tenure, and confidence influence risk-taking behavior from accounting and market-wise perspectives. The results reveal that CEO power and CEO confidence show significantly positive coefficient impacts on market-wise corporate risk taking. In contrast, CEO tenure has no impact on market-wise corporate risk taking. In addition, CEO power and CEO confidence show an insignificant coefficient impact on accounting corporate risk taking. In contrast, CEO tenure has a significant N-shaped curve in accounting for corporate risk taking. The findings contribute to the existing accounting literature by providing new evidence from Saudi Arabia and provide insights into the influence of CEOs’ attributes in shaping a firm’s risk-taking behavior from two perspectives.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.006 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.001 | 0.000 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.001 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".