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1. 1. Life After Bankruptcy - An explorative study on how past bankruptcy experience of directors and CEOs affects a firm's risk-taking, performance and chance of survival

   University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

   Author : Casper Nilson Wrede; Andrea Sgambaro; [2017]
   Keywords : Bankruptcy; Director experience; CEO experience; Risk-Taking; Behavioral Biases;

   Abstract : This paper examines the effects of directors' and CEOs' past bankruptcy experiences on firms' outcomes. We argue that for individuals who have been involved in a corporate bankruptcy, the experience could either bring about a learning effect ("Hot-Stove mechanism"), or confirm their pre-existing behavioural biases ("Innate Risk-Taking mechanism). READ MORE