Empirical Study on Risk Preference of Enterprise Managers

摘要

This paper focuses on the relationship between risk preference of enterprise managers and its influencing factors in China. Based on related research results of other scholars and theoretic analysis of risk preference, we get six major influencing factors of enterprise managers and select the respectively proxy variables and then build the regression model on the risk preference of enterprise managers. Taking non-financial listed companies as sample of empirical research in China, we use the new building regression model to investigate the relationship between managers' risk preference and influencing factors, such as managers' gender, age, professional experience, knowledge background, personal wealth, and risk assets. The results of the empirical research show that there are no significant correlation between the managers' risk preference and their gender, age and professional experience but there are significant correlation with their knowledge background, personal wealth and risk assets in China.