항공사 최고경영자의 특성이 기업가치에 미치는 영향: 전략적 위험감수의 조절효과

초록

The purpose of this work is to investigate the moderating effect of strategic risk taking on the association between chief executive officers’ attributes and firm value in the domain of the airline industry. The independent variables are age, tenure, and educational background of chief executive officers. Strategic risk taking is the moderating variable of this study. The dependent variable is Tobin’s Q. This study used publicly traded airlines in the US stock market. The sources of the data include Compustat, Execucomp, Annual 10K, and LinkedIn. Standard industry classification code 4512 was used. The number of airlines assessed in this study is 15, and the number of observations is 211. For the data analysis, this study performed multiple linear regression analysis. The results disclosed that strategic risk taking positively moderates the relationship between chief executive officers’ education level and firm value. The results could be used for the management of airline.

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