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    ASIA unversity > 管理學院 > 財務金融學系 > 會議論文 >  Item 310904400/63734

    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/63734

    Title: Corporate Governance and Risk-taking of Chinese Firms:The Role of Board Size
    Authors: Huang, Ying Sophie;Wang, Chia-Jane
    Contributors: College of Economics & Academy of Financial Research Zhejiang University;School of Business Manhattan College
    Keywords: Board of directors;Corporate governance;Risk-taking;China
    Date: 2013
    Issue Date: 2013-08-07 09:31:35 (UTC+8)
    Publisher: College of Economics & Academy of Financial Research Zhejiang University;School of Business
    Manhattan College
    Abstract: The corporate governance reform in China offers an interesting context for investigating the
    systematic relationship between board size and firm’s risky policy choices. Our results indicate
    that firms with smaller boards are associated with higher executive pay-to-performance
    sensitivity. These firms also tend to pursue riskier investment policies, engage more frequently in
    earnings management, and experience larger variability in future firm performance. In addition,
    Chinese firms with smaller-sized boards are found to be more conservative in using debt
    financing. Overall, our Chinese evidence is consistent with the hypothesis that board size has
    negative impacts on firm risk-taking.
    Relation: 2013中部學術財金研討會 論文發表
    Appears in Collections:[財務金融學系] 會議論文

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