CEO Horizon and Risk-taking Behaviour

Student: Anakhasian Lusine

Educational Programme: Economics (Bachelor)

Year of Graduation: 2021

This study investigates the CEO horizon problem on the example of Russian companies. We assume that this problem is relevant for the Russian market and can be mitigated by the presence of independent or outside directors on the board and governmental support in the form of state ownership. Using the panel data for 82 Russian companies in 2009–2019, we confirmed the presence of the CEO horizon problem in Russia and the moderating effect of outside directors on the board. However, the results for the mitigating effect of state ownership failed to be significant.

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