Theoretical analysis of the impact of managers' perception of time on risk-taking

Abstract

In an ever-changing world, companies need to face up to this change to ensure their long-term survival and protect themselves against any future risks.

The notion of time thus remains a crucial element in coping with the unpredictable situations to which the organizational world is now subject.

This research aims to characterize the concept of time perception and its effects on risk-taking for managers within organizations. This article attempts to answer the question of time perception by introducing two temporal attributes that we consider important for understanding risk-taking behavior, given that risk is an integral part of time.

We examine the impact of polychrony and monochrony on managerial risk-taking theoretically. The study of these dimensions of culture and their effects on organizational effectiveness is particularly relevant to corporate leaders. This article presents theoretical underpinnings for future empirical research into the impact of managers' perception of time on risk-taking.

Keywords: Time perception, Polychrony, Monochrony, Risk-taking

JEL classification: M12-M54

Paper Type: Theoretical Research