This paper examines the effect of CEO risk appetite on the return volatility of a sample of large, listed financial firms over the period 2000-2008. After controlling for firm specific characteristics, the results give strong evidence that the CEO risk appetite has an important effect on firm...

This paper studies the effect of floating exchange rates (XRs) on the competitive environment and the performance of UK small and medium sized enterprises (SMEs). Using an innovative technique that separates XR exposures into those that increase stock market returns and those that reduce them,...

Because heterogenous and unknown shareholder utility functions make it difficult to define a corporate objective common to all shareholders based on utility, the traditional theory of the firm concentrates on wealth maximization as the main measure of performance. Using the concept of ranked...