Unveiling Gender Dynamics in Strategic Risk-Taking and Risk-Aversion Among Indonesian Executives

In this research, we aims to examine how gender disparities among corporate leaders (executives) and their level of risk aversion can impact the organization's strategic risk-taking. A questionnaire survey method was employed to collect data from executives in Indonesia holding minimum positions of senior manager (BOD-1), director or commissioner (C-Level). Standard behavioral economics expected utility approach is employed to quantify the degree of risk aversion, while respondents will also make investment choices to assess their inclination towards strategic risk-taking. The research employed the t-test and linear logistic regression analysis to examine the hypothesis. The research findings indicate that female executives exhibit a higher degree of risk aversion compared to their male counterparts. In line with most st udies, risk averse executives prefer to engage in more cautious strategic risk-taking. Nevertheless, there are no discernible disparities between female executives and male execautives when it comes to engaging in strategic risk-taking.