Corporate Governance and Risk Taking
@article{John2008CorporateGA, title={Corporate Governance and Risk Taking}, author={K. John and Lubomir P. Litov and Bernard Yeung}, journal={Journal of Finance}, year={2008}, volume={63}, pages={1679-1728} }
Better investor protection could lead corporations to undertake riskier but value-enhancing investments. For example, better investor protection mitigates the taking of private benefits leading to excess risk-avoidance. Further, in better investor protection environments, stakeholders like creditors, labor groups, and the government are less effective in reducing corporate risk-taking for their self-interest. However, arguments can also be made for a negative relationship between investor… CONTINUE READING
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