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Risk-taking Propensity of Domestic and Expatriate Managers in the Croatian Hotel Industry

This paper analyses the characteristics of expatriate and domestic managers in Croatian hotel industry related to the risk-taking propensity that is regarded as a vital component for a personal and organisational achievement. The research was conducted in 2011 and 2012 using the questionnaire on a sample of middle and top level domestic and expatriate managers employed in Croatian hotel companies. Two measures of risk-taking propensity were used: objective (Choice Dilemma Questionnaire) and subjective (self-evaluation). The results suggest that foreign managers are greater risk takers compared to Croatian managers. Besides country of origin, certain characteristics such as gender, dependants and education also determine managerial risk-taking propensity. Furthermore, correlation coefÞ cients between subjective and objective evaluations of risk-taking propensity show that expatriates’ self-evaluation corresponds to objective risk-taking propensity measure while Croatian managers’ self-evaluation does not correspond. This research provides new insights into managerial risk-taking propensity in Croatian hotel industry.

Risk-taking; Managers; Expatriates; Hotel industry

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