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), 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 )