教師資料查詢 | 類別: 期刊論文 | 教師: 黃健銘 HUANG, CHIEN-MING (瀏覽個人網頁)

標題:Analysis on the Efficiency of Risk Management in the Chinese Listed Companies
學年109
學期1
出版(發表)日期2020/10/19
作品名稱Analysis on the Efficiency of Risk Management in the Chinese Listed Companies
作品名稱(其他語言)
著者Chien-Ming Huang; Wei Yang; Ren-Qing Zeng
單位
出版者
著錄名稱、卷期、頁數Mathematics 8(10), 1831
摘要Since a firm’s profitability is associated with a degree of risk taking, risk indicators have been extensively treated as exogenous variables and affected firm performance. The level of risk taking should be determined through internal control quality and firm-specific characteristics to effectively understand the relationship between risk management and firm performance. This study aims to investigate the effects of risk management efficiency on the production efficiency of Chinese listed companies from 2002 to 2016 using the two-step data envelopment analysis (DEA) approach. Empirical results indicate that risk management differs from traditional financial theory, which means that high-level risk would earn high expected returns. Firms with a low efficiency index of enterprises risk management will have low performance. In particular, internal controls were significantly improved after the 2008 financial crisis. Our overall results also suggest that information asymmetry is still a problem in financial markets. To achieve maximum benefits for shareholders and improve the quality of information disclosure, methods for enacting market regulations are still very important issues in China.
關鍵字Risk management efficiency;data envelopment analysis;information asymmetry
語言英文
ISSN2227-7390
期刊性質國外
收錄於SCI;
產學合作
通訊作者Wei Yang
審稿制度
國別美國
公開徵稿
出版型式,電子版
相關連結
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