بررسی تأثیر اثربخشی مدیریت ریسک بر ریسک سقوط قیمت سهام با تأکید بر نقش مدیریت عمومی شرکت
محورهای موضوعی : خطمشی‌گذاری عمومی در مدیریت
1 - عضو هیات علمی دانشگاه پیام نور ،تهران،ایران
2 - کارشناسی ارشد،دانشگاه پیام نور، مشهد ،ایران
کلید واژه: ریسک سقوط قیمت سهام, اثربخشی مدیریت ریسک, مدیریت عمومی شرکت,
چکیده مقاله :
زمینه: ریسک سقوط سهام همواره یکی از نگرانی‌های سرمایه‌گذاران و سهامداران می‌باشد و به همین دلیل پژوهش حاضر به بررسی تأثیر اثربخشی مدیریت ریسک بر ریسک سقوط قیمت سهام با تأکید بر نقش مدیریت عمومی شرکت پرداخته است. این پژوهش ازلحاظ هدف، کاربردی بوده و از بعد روش‌شناسی همبستگی از نوع علّی (پس رویدادی) بوده است.هدف پژوهش: هدف پژوهش بررسی اثربخشی مدیریت ریسک با نقش تعدیل‌کننده مدیریت عمومی بر ریسک سقوط قیمت سهام در شرکت های پدیرفته شده ی بورس اوراق بهادار تهران است.روش پژوهش: جامعه آماری پژوهش کلیه شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران بوده که به اعمال محدودیت‌ها و روش نمونه‌گیری حذف سیستماتیک و با توجه به اینکه یکی از معیارهای اثربخشی مدیریتی ریسک حق‌الزحمه حسابرسی می‌باشد و برخی از شرکت‌ها میزان حق‌الزحمه را افشا نکرده‌اند بنابراین تعداد 86 شرکت به‌عنوان نمونه پژوهش در نظر گرفته شدند و در دوره زمانی 1390 تا 1398 موردتحقیق قرار گرفتند. روش مورداستفاده جهت جمع‌آوری اطلاعات، کتابخانه‌ای بوده و داده‌های مربوط برای اندازه‌گیری متغیرها از سایت کدال و صورت‌های مالی شرکت‌ها جمع‌آوری‌شده و در نرم افزار اکسل محاسبات اولیه صورت گرفت سپس فرضیه‌های پژوهش با استفاده از روش رگرسیون چندگانه و آماره تی و با نرم‌افزار ایویوز مورد آزمون قرار گرفتند.یافته‌ها: با توجه به نتایج حاصل از تخمین نهایی فرضیه اول پژوهش بیان شد که با افزایش اثربخشی مدیریت ریسک، ریسک سقوط قیمت سهام شرکت کاهش یافته و احتمال سقوط ناگهانی قیمت سهام کنترل می‌گردد و با توجه به نتایج حاصل از فرضیه دوم پژوهش بیان شد که مدیریت عمومی بررابطه اثربخشی مدیریت ریسک و کاهش سقوط قیمت سهام تاثیر معناداری دارد.نتیجه‌گیری: با توجه به تایید نقش مدیریت ریسک و مدیریت عمومی بر ریسک سقوط قیمت سهام می توان بیان کرد که سرمایه گذاران جهت کاهش ضررهای احتمالی در انتخاب سبد سرمایه گذاری خود کمیته مدیریت ریسک شرکت ها و مالکیت عمومی آن ها را مد نظر قرار دهند.
Background: The risk of falling stocks has always been one of the concerns of investors and shareholders, and therefore, the present study aimed to investigate the effect of risk management effectiveness on the risk of falling stock prices with an emphasis on the role of the company's general management. This study was applied in terms of purpose and was causal (post-event) correlation methodology. Objective: The aim of this study was to investigate the effectiveness of risk management with the moderating role of general management on the risk of stock price collapse in padded companies in Tehran Stock Exchange. Methods: The statistical population of the study was all the companies listed in Tehran Stock Exchange that applied the limitations and sampling method systematically and considering that one of the criteria of management effectiveness is audit fees and some companies have not disclosed the amount of fees, so 86 companies were considered as research samples and in the 9-year period of 2011 to 2019 were investigated. The method used for data collection was library and data were collected from the codal site and financial statements of companies to measure the variables and initial calculations were performed in Excel, then the research hypotheses were tested using multiple regression method using Ivyus software. Findings: According to the results of the final estimate of the first hypothesis, it was stated that by increasing the effectiveness of risk management, the risk of falling stock price of the company is reduced and the probability of sudden collapse of the stock price is controlled, and according to the results of the second hypothesis of the research, it was stated that general management has a significant effect on the effectiveness of risk management and the reduction of stock price falls. Conclusion: Considering the role of risk management and management General on the risk of falling stock prices can be stated that investors are suggested to consider the corporate risk management committee and their public ownership in order to reduce the potential losses in choosing their investment portfolio.
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