Co-opted boards, corporate risk-taking behavior and social capital = Co-opted 이사 비율이 기업 위험추구 성향에 미치는 영향 : 사회적 자본의 조절효과 중심으로

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This paper empirically investigates the effect of co-opted boards on corporate risk-taking behavior and the moderating effect of social capital on the relation. We find a positive relation between board co-option and equity volatility. Endogeneity concerns are addressed using difference-in-difference (DID) methodology. Evidence also demonstrates that social capital acts as a moderator alleviating managers’ risk-taking incentives in the presence of a weakened corporate governance, thus offsetting negative corporate outcomes. Alternative measures of social capital are employed to validate the robustness of estimations.
Advisors
Han, Seung Hunresearcher한승헌researcher
Description
한국과학기술원 :기술경영학부,
Publisher
한국과학기술원
Issue Date
2019
Identifier
325007
Language
eng
Description

학위논문(석사) - 한국과학기술원 : 기술경영학부, 2019.8,[ii, 28 p. :]

Keywords

Co-opted boards▼acorporate risk-taking behavior▼aequity volatility▼asarbanes-oxley acts (SOX)▼asocial capital; Co-opted 이사 비율▼a기업 위험추구 성향▼a주식 변동성▼a사회적 자본▼a미국 Sarbanes-Oxley Acts (SOX)

URI
http://hdl.handle.net/10203/282929
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=875192&flag=dissertation
Appears in Collection
MG-Theses_Master(석사논문)
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