Ultimate Controllers and Corporate Risk Taking

摘要：

This paper investigates the impact of ultimate controllers on corporate risk taking. Using a sample of Chinese listed firms from the period 2004 to 2008, the results show that the divergence between cash flow right and control right of the ultimate controller has significantly negative effects on corporate risk taking. Further analysis shows that the effects of the divergence are stronger when the ultimate controller has a longer control chain.

关键词： Ultimate controllers Risk taking Agency problem

作者: CHEN Shenglan

作者单位: School of Economics & Management, Inner Mongolia University, P.R.China, 010021

会议类型: 国际会议

会议名称: 2010 International Conference on Management Science and Engineering(2010年管理科学与工程国际学术研讨会)

会议地点: 成都

会议语种:英文

页码: 226-230

在线出版日期: 2010-11-01（万方平台首次上网日期，不代表论文的发表时间）