Board Advising, Risk-Taking, and Firm Performance - Journal of Financial Risk Management

JFRM > Vol.5 No.3, September 2016

Journal of Financial Risk Management

Volume 5, Issue 3 (September 2016)

ISSN Print: 2167-9533 ISSN Online: 2167-9541

Google-based Impact Factor: 1.09 Citations

Board Advising, Risk-Taking, and Firm Performance ()

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DOI: 10.4236/jfrm.2016.53015 1,977 Downloads 3,786 Views Citations

Author(s)

Jianping Li

Affiliation(s)

Department of Accounting, School of Management, Jinan University, Guangzhou, China.

ABSTRACT

The corporate risk-taking has caught public attention due to the global financial crisis. Using a sample of listed companies in China from 2008 to 2015, this paper investigates how the role of board advising affects corporate risk-taking and the possible economics consequences of risk-taking. The empirical results show that the percentage of advisory directors is positively associated with the level of corporate risk-taking, and the interaction of the percentage of advisory directors and risk-taking is positively correlated with the future firm performance. However, these effects are not significant at all in the state-owned enterprises due to government’s interference.

KEYWORDS

Risk-Taking, Board Advising, Firm Performance

Share and Cite:

Li, J. (2016) Board Advising, Risk-Taking, and Firm Performance. Journal of Financial Risk Management, 5, 149-160. doi: 10.4236/jfrm.2016.53015.

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