Purpose – The way in which managers differ when confronted with risky options or when evaluating
different alternatives constitutes a fundamental part of organizational risk management. This study aims to
investigate how managerial risk-taking attitudes (i.e. ethical and financial risk-taking as a trade-off between
benefit and riskiness) change over time and based on gender.
Design/methodology/approach – The authors conducted a cross-sectional study on a sample of
Italian executives and measured their perceptions of risk-taking, risk perception and risk-benefit, all
referring to the company they worked for in the ethical and financial domain. The study also collected
demographic data to gather information on age and gender. The authors analyzed data collected using
multilevel analysis.
Findings – The results show that perceived benefits are the main drivers of risk-taking attitudes in both
domains. Age and gender are not significant direct predictors of risk, but interactions with domains reveal
insightful patterns.
Originality/value – Overall, this study highlights the need to assess the whole pattern of relationships
emerging from the range of situational variables characterizing a specific population. Concerning the
organizational context, it means addressing the role of organizational variables in influencing risk-taking so
as to determine the extent to which organizational policies are indeed effective in fostering efficient
organizational risk management.