Table 4 Severity of the famine and firm risk-taking.
From: How Chief Executive Officers’ first-hand experience of the Great Chinese Famine affects risk-taking?
Variables | Firm risk-taking t + 1 | |
|---|---|---|
Model 1 | Model 2 | |
CEO age | −0.003*** (0.000) | −0.003*** (0.000) |
CEO gender | −0.001 (0.009) | 0.000 (0.009) |
CEO education | −0.017*** (0.004) | −0.016*** (0.004) |
Duality | 0.017*** (0.004) | 0.017*** (0.004) |
ROA | −0.204*** (0.036) | −0.207*** (0.036) |
Concentration | −0.003** (0.002) | −0.003** (0.002) |
Size | −0.000 (0.000) | −0.000 (0.000) |
Slack | −0.003*** (0.001) | −0.003*** (0.001) |
TMT famine experience | 0.072*** (0.020) | 0.075*** (0.020) |
MI | 0.013*** (0.001) | 0.013*** (0.001) |
State ownership | 0.042*** (0.005) | 0.042*** (0.005) |
Market competition | 0.000 (0.000) | 0.000 (0.000) |
Severity of the famine | 0.524 (0.389) | 3.501*** (1.333) |
Severity of the famine* Severity of the famine | −57.044** (24.427) | |
Constant | 0.589*** (0.025) | 0.588*** (0.025) |
Birth place fixed effects | Yes | Yes |
Birth status fixed effects | Yes | Yes |
Observations | 6451 | 6451 |
