CEO AGE, CEO EXPERIENCE AND FINANCIAL RISK: A STUDY ON VIETNAM STOCK MARKET

Abstract

The characteristics of Chief Executive Officers (CEOs) play a crucial role in shaping a company's operational and önancial strategies. Factors such as age,
educational background, professional experience, gender, and managerial authority can signiöcantly inøuence how a CEO leads and utilizes önancial resources.
This article highlights the impact of a CEO’s age and experience on their level of önancial risk tolerance, measured through the önancial leverage ratio. Based on
a dataset of 4,224 observations over 11 years (from 2012 to 2022), the öndings indicate that CEOs with higher age and more years of experience in Vietnamese
enterprises tend to be less willing to accept önancial risk. This article contributes to the existing literature by enriching the understanding of how individual CEO
characteristics affect leadership style, working methods, risk tolerance, innovation orientation, and corporate performance.