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Board Leadership Structure and Firm Risk-Taking Behaviour

Citation

Wang, Yi and Wilmshurst, TD, Board Leadership Structure and Firm Risk-Taking Behaviour, Corporate Ownership and Control, 6, (2) pp. 52-60. ISSN 1727-9232 (2008) [Refereed Article]


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Abstract

In this paper the conceptual frameworks, which make different predictions about the effect of board leadership structure on firm risk-taking behaviour, are examined. From a sample of 243 Australian listed firms, it is found that leadership structure does not have any significant influence on firm risk; higher blockholder ownership or lower dividend payout is related to increased performance variance. This research suffers from some limitations; the archival study of the functional background of board chairman may not reveal the underlying relationship between the board of directors and firm risktaking behaviour. We only test the influence of leadership structure on performance variance; further research could investiga.te the potential impact of board composition on firm risk-taking propensity.

Item Details

Item Type:Refereed Article
Keywords:Board of directors, leadership structure, firm risk, corporate governance, Australia
Research Division:Commerce, Management, Tourism and Services
Research Group:Accounting, Auditing and Accountability
Research Field:Accounting, Auditing and Accountability not elsewhere classified
Objective Division:Expanding Knowledge
Objective Group:Expanding Knowledge
Objective Field:Expanding Knowledge in Commerce, Management, Tourism and Services
Author:Wang, Yi (Mr Yi Wang)
Author:Wilmshurst, TD (Associate Professor Trevor Wilmshurst)
ID Code:55758
Year Published:2008
Deposited By:Accounting and Corporate Governance
Deposited On:2009-03-12
Last Modified:2010-05-31
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