Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.2013270
Family control and corporate risk-taking in China: Does working capital strategy matter?
Chai Bin-Feng
Sultan Sikandar Mirza
orcid.org/0000-0002-8044-9945
Tanveer Ahsan
Raheel Safdar
Amjad Iqbal
Mustansar Hayat
Sažetak
This study uses the data of A-share listed family firms during the
period 2010-18 and employs multiple regression analysis to verify
the role of family control and working capital strategy for corporate risk-taking in China. This study also explores the regulatory
role of family control in the relationship between working capital
strategy and corporate risk-taking of Chinese listed family firms.
Results show that greater family control encourages risk-taking
behavior in Chinese firms whereas conservative working capital
strategy diminishes corporate risk-taking. The results also suggest
a regulatory role for family control on the effects of working capital strategy for family firms’ risk-taking behavior. Strong family
control weakens the negative association between working capital
conservatism and corporate risk-taking. This study’s findings may
help managers of family firms to adjust risk-taking behavior in
response to changing working capital strategy. The results are
robust to different measures of corporate risk-taking and working
capital strategy
Ključne riječi
Family control; working capital strategy; corporate risk-taking; family firms; Chinese firms
Hrčak ID:
302701
URI
Datum izdavanja:
31.3.2023.
Posjeta: 231 *