CEOs from Highest Social Class Take the Most Risks, New Study Finds
University of Arkansas, FayettevilleA new study by a University of Arkansas management professor shows how origins of social class explain risk-taking behavior – good or bad – by the top executive at the largest U.S. public corporations. In a survey of 265 chief executive officers, Jennifer Kish-Gephart, assistant professor of management in the Sam M. Walton College of Business, and co-author Joanna Campbell at the University of Cincinnati found that CEOs with lower and upper social-class origins take greater strategic risks than those who grew up in middle-class families. Within the two high-risk categories, CEOs with upper social-class origins engage in higher levels of strategic risk-taking than their lower social-class counterparts.