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Political association, managerial power heterogeneity, and corporate risk-taking in China

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  • Bin-Feng Chai
  • Sultan Sikandar Mirza

Abstract

This article investigates the impact of political association and managerial power heterogeneity on corporate risk-taking using data of listed companies in China from 2006 to 2015. Politically associated companies demonstrate higher corporate risk-taking, and the impact of managerial power thereon depends on the source thereof. Structurally speaking, board of directors’ supervision, and shareholders’ supervision power are positively associated with corporate risk-taking, but ownership, expert, and prestige power are negatively associated. Political association weakens the influence of structural and prestige power on corporate risk-taking and strengthens the impact of ownership and expert power thereon. The article adds to the literature on political association, managerial power, and corporate risk-taking.

Suggested Citation

  • Bin-Feng Chai & Sultan Sikandar Mirza, 2019. "Political association, managerial power heterogeneity, and corporate risk-taking in China," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 1373-1393, January.
    • Handle: RePEc:taf:reroxx:v:32:y:2019:i:1:p:1373-1393
    DOI: 10.1080/1331677X.2019.1634613
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    Cited by:

    1. Qiubin Huang & Mengyuan Xiong & Ming Xiao, 2022. "Does managerial ability affect corporate financial constraints? Evidence from China," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 3731-3753, December.

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