Risk, AGAIN - Empirical Examination of the Impact of Age, Gender, Affiliation to a Political Party, Insider Ownership, and Narcissism of Top Executives on Firm Risk Taking

This study aims to examine the role played by gender, affiliation to a political party, insider ownership, and narcissism of top executives i.e., chief executive officer (CEO) and chief financial officer (CFO) on the three firm risk-taking measures, namely total risk, systematic risk, and idiosyncratic risk. In the context of our study, we define the political affiliation of an individual as having a direct or indirect connection to a government, a government officer, a political party, or a politician. Insider ownership is the proportion of stock held directly by company directors, managers, and other management personnel through exercising employee stock options or through private corporations (Bauer et al., 2021). Lastly, the American Psychiatric Association defines narcissism as “a persistent pattern of need for admiration, lack of empathy, and grandiosity” (American Psychiatric Association, 2013).