Systematic Risk and Corporate Governance Risk--An Empirical Research of Chinese Listed Companies

摘要：

In order to help investors predict and prevent risks rationally, this paper examines the relation between systematic risk and corporate governance risk of Chinese listed companies. In the theory aspect, the risk of governance mechanism consociation is proposed. Furthermore, we use panel data of 2001-2009 to analyze the relation between systematic risk and corporate governance risk. The empirical results verify that validation control of large shareholders significantly increases corporate governance risk. We also find the risk of governance mechanism consociation is the main source of governance risk, and the set up of Board and Supervisory Committee can efficiently reduce the risk of corporate governance.

关键词： systematic risk governance risk mechanism

作者: Li Feng Tongying Liang

作者单位: School of Business Administration, South China University of Technology, Guangzhou, 510641, China School of Business Administration, South China University of Technology,Guangzhou, 510641, China

会议类型: 国际会议

会议名称: 2011 Fourth International Conference on Business Intelligence and Financial Engineering(第四届商务智能与金融工程国际会议 BIFE2011)

会议地点: 武汉

会议语种:英文

页码: 395-399

在线出版日期: 2011-10-17（万方平台首次上网日期，不代表论文的发表时间）