“…Executive tenure is one of the most studied attributes of executives in the risk-taking literature-long-tenured executives are reluctant to make changes and thus take fewer risks (Boeker, 1997a;Hambrick & Fukutomi, 1991;Hambrick, Geletkanycz, & Fredrickson, 1993;Miller, 1991). New executives, however, are more likely to support new product-market entry (Boeker, 1997b), experimentation (Miller & Shamsie, 2001), technological dynamism (Wu, Levitas, & Priem, 2005), innovation (Chaganti & Sambharya, 1987;Thomas, Litschert, & Ramaswamy, 1991), R&D spending (Barker & Mueller, 2002), and risky subprime mortgage lending (Lewellyn & Muller-Kahle, 2012).…”