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      Risk committee, corporate risk-taking and firm value

      Bhuiyan, Md. Borhan Uddin; Cheema, Muhammad A.; Man, Yimei
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      Full Paper - Risk Committee, Risk-taking and Firm Value.pdf
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      Bhuiyan, M. B. U., Cheema, M. A., & Man, Y. (2017). Risk committee, corporate risk-taking and firm value. Presented at the 2017 Auckland Finance Meeting, Queenstown, New Zealand, 18-20 December, 2017.
      Permanent Research Commons link: https://hdl.handle.net/10289/11655
      Abstract
      We empirically examine the impact of the stand-alone risk committee on corporate risk-taking and firm value. We argue that the existence of a stand-alone risk committee enhances the quality of corporate governance which results in improved investor protection by reducing corporate risk-taking and enhancing firm value. We find several measures of risk-taking decline significantly for firms that have a stand-alone risk committee compared with firms that have a joint audit and risk committee. We also find that the presence of a stand-alone risk committee is positively associated with firm value. The evidence is consistent with the proposition that the firms with a stand-alone risk committee can effectively evaluate potential risks and implement a proper risk management system.
      Date
      2017
      Type
      Conference Contribution
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      • Management Papers [1125]
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