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The Relationship Between Corporate Risk Taking & Ownership Structure With Emphasize on Legal Environment And Business Groups

Author

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  • Asnaashari Hamideh
  • Moradgholi Hassan

Abstract

In this research, the relationship between corporate risk taking and ownership structure is investigated. Corporate risk taking measured by the variance of ROA and ownership structure is proxied by the level of the Major shareholder owner-ship. In this regard ,with the data of 113 Companies listed in Tehran Stock Exchange for a period from 2010 to 2015 and using Regression analysis-Fixed effects method, the result indicates that there is a significant negative relationship between major shareholder ownership and risk taking; it means if major share-holder ownership increases then corporate risk taking decreases. The findings also show that being a member of business groups and the legal environment improvement have no effect on the relationship between major shareholder owner-ship and risk taking.

Suggested Citation

  • Asnaashari Hamideh & Moradgholi Hassan, 2019. "The Relationship Between Corporate Risk Taking & Ownership Structure With Emphasize on Legal Environment And Business Groups," Journal of financial analysis, IJFADaghani, vol. 2(2), pages 67-87.
    • Handle: RePEc:adw:journl:y:2019:v:2:i:2:p:67-87
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    More about this item

    Keywords

    Risk taking; ownership structure; legal environment improvements; business groups;
    All these keywords.

    JEL classification:

    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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