Political association, managerial power heterogeneity, and corporate risk-taking in China

被引：11
|
作者：
Chai, Bin-Feng [1 ]
Mirza, Sultan Sikandar [2 ]
机构：
[1] Zhejiang Gongshang Univ, Sch Accounting, Hangzhou, Zhejiang, Peoples R China
[2] Zhejiang Gongshang Univ, Int Business Sch, Hangzhou 310018, Zhejiang, Peoples R China
来源：
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA | 2019年 / 32卷 / 01期
关键词：
political association; management power; risk-taking; panel data; China; CONNECTIONS; INCENTIVES; STATE;
D O I：
10.1080/1331677X.2019.1634613
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article investigates the impact of political association and managerial power heterogeneity on corporate risk-taking using data of listed companies in China from 2006 to 2015. Politically associated companies demonstrate higher corporate risk-taking, and the impact of managerial power thereon depends on the source thereof. Structurally speaking, board of directors' supervision, and shareholders' supervision power are positively associated with corporate risk-taking, but ownership, expert, and prestige power are negatively associated. Political association weakens the influence of structural and prestige power on corporate risk-taking and strengthens the impact of ownership and expert power thereon. The article adds to the literature on political association, managerial power, and corporate risk-taking.
引用
收藏
页码：1373 / 1393
页数：21
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