Publication: Ceo Characteristics, Firm Risk Exposure And Industrial Revolution 4.0 Adoption In Malaysia
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Date
2025-08
Authors
Chuah, Shu Fen
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Abstract
This thesis investigates the relationship between CEO characteristics and the Industrial Revolution 4.0 (IR4.0) adoption, considering the moderating role of firm risk exposure. Drawing on upper echelons theory (UET), the thesis explores how CEO characteristics, specifically family CEOs, female CEOs, CEOs with foreign tertiary education, and older CEOs, influence IR4.0 adoption, which can be viewed as an extended managerial risk-taking. This thesis proposed that IR4.0 adoption could be reflected through four dimensions: technology acquisition, the hiring of top management team (TMT) with IR4.0 expertise, the appointment of chief information officers (CIOs), and the establishment of board-level technology committees. Using a panel dataset of 944 publicly listed firms on Bursa Malaysia from 2015 to 2023, resulting in a total of 8,163 observations, this study analyses data sourced from company annual reports and the S&P Capital IQ database.
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Ceo Characteristics , Firm Risk Exposure , Industrial Revolution 4.0 Adoption , Malaysia