Mid-managers tend to be more risk averse, especially in the more bureaucratic organizations, which accounts for much of the resistance seen when programs are implemented. Managers in larger firms take more risks than managers in smaller firms. Managers in larger firms believe they take more risks than those in the smaller firms but research shows the opposite. They do, but the reasons are not clear. There are no differences between college and high school graduates.
Most managers are risk averse.
Calvert's research and experience indicate that most managers tend to avoid risks and suggests that a minority of managers take voluntary risks on a regular basis or on a significant scale. He suggests that maybe twice as many believe that they take risks than those who quality by their behavior. Lastly, active risk takers rarely label themselves as such, in part because their risk taking does not seem terribly risky to them.