Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2019.1634613
Political association, managerial power heterogeneity, and corporate risk-taking in China
Bin-Feng Chai
; School of Accounting, Zhejiang Gongshang University, Hangzhou, China
Sultan Sikandar Mirza
; International Business School, Zhejiang Gongshang University, Hangzhou, China
Sažetak
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.
Ključne riječi
political association; management power; risk-taking; panel data; China
Hrčak ID:
228806
URI
Datum izdavanja:
22.1.2019.
Posjeta: 859 *