The Impact of Corporate Ownership Structure on Corporate Risk-taking Attitude ： Prospect Theory Explanations
| Autor: | CHOU, MENG-PING, 周孟蘋 |
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| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 106 This study analyzes the impact of corporate ownership structure on risk-taking attitudes by applying the prospect theory. Empirical results indicate that the institutional ownership, blockholder ownership, director ownership and manager ownership affect the corporate risk-taking attitude. When the corporation has a higher blockholder ownership, better the corporation performance, and stronger the risk-taking tendency, the risk-taking tendency is not only higher, but also increases at an increasing rate. When the performance is worse than the industry, the corporation with higher director ownership is more unwilling to take risks; the propensity of risk-taking increases with the worsening of the performance. No matter the corporation has better performance than the industry or not, Tobin’s Q increases with the corporation performance and the corporation director ownership. The greater the Tobin’s Q, the higher the risk taking. But the ownership structure has no effects on the relationship between firm performance and Tobin’s Q. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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