期刊論文
| 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), p.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 | en_US |
| ISSN | 2227-7390 |
| 期刊性質 | 國外 |
| 收錄於 | SCI |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 否 |
| 國別 | CHE |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/124408 ) |