تاثیر نظام راهبری شرکتی بر ریسک ویژه نوسانات سهام بر پایه مدل قیمت گذاری دارایی : شواهدی از رگرسیون خطی و غیر خطی
الموضوعات :فاطمه ژولانژاد 1 , راحله امیرخانی 2
1 - دکترای حسابداری، دانشکده علوم انسانی، موسسه آموزش عالی فیض الاسلام، خمینی شهر، ایران.
2 - دانشجوی کارشناسی ارشد حسابداری، دانشکده علوم انسانی، موسسه آموزش عالی غیرانتفاعی غیردولتی فیض الاسلام، خمینی شهر، ایران
الکلمات المفتاحية: ریسک‌پذیرفته شده, مالکیت خانوادگی, مالکیت غیرخانوادگی, اعضای هیئت مدیره, زنان عضو هیئت مدیره,
ملخص المقالة :
ساختار مالکیت و راهبری شرکتی و حاکمیت شرکتی عوامل موثر و مهمی برای سطح ریسک‌پذیرفته شده توسط شرکت‌ها هستند. ساختار مالکیت و راهبری شرکتی و حاکمیت شرکتی، میزان مواجهه با ریسک را تعیین می‌کند. اثرات بر ریسک‌پذیری قابل‌توجه است زیرا می‌تواند بر سودآوری شرکت، تغییر ارزش بازار و احتمال ورشکستگی تأثیر بگذارد. این پژوهش تأثیر مالکیت خانوادگی و راهبری شرکتی و ویژگی‌های هیئت مدیره را بر ریسک‌پذیرفته شده بررسی می‌کند. در راستای هدف پژوهش، دوازده فرضیه تدوین شد. جهت آزمون این فرضیه‌ها با استفاده از روش حذف سامانمند جامعه آماری قابل‌دسترس، نمونه‌ای متشکل از 180 شرکت از بین شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران در طی سال‌های 1390 لغایت 1400 انتخاب گردید. برای تجزیه و تحلیل داده‌ها و آزمون فرضیه‌ها از مدل‌های رگرسیون چند متغیره به روش داده‌های ترکیبی استفاده شده است. نتایج حاصل از پژوهش نشان می‌دهد که مالکیت خانوادگی بر ریسک‌پذیرفته شده به صورت خطی و غیر خطی تاثیر می‌گذارند، مالکیت غیرخانوادگی بر ریسک‌پذیرفته شده به صورت خطی و غیر خطی تاثیر می‌گذارند، اندازه هیات مدیره بر ریسک‌پذیرفته شده تاثیر معناداری ندارد و همچنین حضور زنان در هیات‌مدیره بر ریسک‌پذیرفته شده تاثیر معناداری ندارد.
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