Formal and Informal Board/TMT Relationship on Entrepreneurial Risk Taking: Moderating Effect of Environmental Hostility and Prospector Strategy

• Main Authors: Chia-Cheng Yang, 楊家正
• Other Authors: Hsueh-Liang Wu
• Format: Others
• Language: en_US
• Online Access: http://ndltd.ncl.edu.tw/handle/19559952843872491634

碩士 === 國立成功大學 === 企業管理學系碩博士班 === 93 === 　　This thesis reports the results of a study designed to investigate the relationship between entrepreneurial risk taking and formal or informal board/TMT relationship, with environmental hostility as well as strategy posture of prospector in a sample of 105 Taiwanese firms. Formal board/TMT relationship includes both board passiveness and CEO duality, and informal board/TMT relationship indicates family ties between board and TMT. Moderated hierarchical regression analysis was used to investigate the relative predictive power of contingency approach for exploring association between the board/TMT relationship, and entrepreneurial risk taking within hostile environment and prospector orientation of firms. The empirical finding indicated that there is a negative relationship between board passiveness and entrepreneurial risk taking. Whereas firms facing hostile environment are still risk taking, whether board passiveness influence entrepreneurial risk taking or not. When CEO and chairperson is the same one, CEO duality, is conducive to entrepreneurial risk taking. Whereas the separation of CEO and chairperson is contributive to entrepreneurial risk taking when a firm faces a hostile environment, or when it adopts prospector strategic orientation. However, informal relationship is also good for entrepreneurial risk taking in this study in both situations. Besides, their family members promote entrepreneurship through their skills and it also reduces the information asymmetry as well as agency problem.