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Can a Subsidiary’s Autonomy Affect its Strategic Risk-taking? Evidence from China

In: Proceedings of the 2025 7th International Conference on Economic Management and Model Engineering (ICEMME 2025)

Author

Listed:
  • Tianyu Zhang

    (Shandong University, School of Management)

  • Zixun Liu

    (Shandong University, School of Management)

  • Weiping Liu

    (Party School of State Grid Corporation of China)

  • Yunhan Wang

    (University of Birmingham)

  • Yunxi Wang

    (University of Birmingham)

Abstract

Does a subsidiary’s autonomy affect its strategic risk-taking? Aiming to answer this question, this study considers the data for the 2007-2020 period of the A share firms listed on Shanghai and Shenzhen stock exchanges. The study finds that subsidiaries’ autonomy positively affects subsidiaries’ strategic risk-taking. This relationship holds even after several robustness checks were performed. The context test’s results show that subsidiaries’ redundant resources positively moderate the relationship between a subsidiary’s autonomy and its strategic risk-taking. Then, this study also explores the potential mechanisms of these relationships, and demonstrates that a subsidiary’s resources acquisition capability plays the mediator’s role to promote its strategic risk-taking. In addition, we also demonstrate the positive governance effects of a subsidiary’s strategic risk-taking on its performance.

Suggested Citation

  • Tianyu Zhang & Zixun Liu & Weiping Liu & Yunhan Wang & Yunxi Wang, 2026. "Can a Subsidiary’s Autonomy Affect its Strategic Risk-taking? Evidence from China," Advances in Economics, Business and Management Research, in: Touria Benazzouz & Sandeep Saxena & Hui Nee Au Yong & Nor Zafir Md Salleh (ed.), Proceedings of the 2025 7th International Conference on Economic Management and Model Engineering (ICEMME 2025), pages 338-351, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-602-9_32
    DOI: 10.2991/978-94-6239-602-9_32
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