Board interlocks and corporate risk-taking
An empirical analysis of listed companies from tourism and related industries in China
Bibliographic Data
| ID | 21689429 |
|---|---|
| Authors | Chen Hao (0000-0002-9901-4650, East China Normal University), Hao Chen (0000-0002-8873-8266, East China Normal University, corresponding author), Xuegang Feng (East China Normal University), Dandan Wu (0009-0008-5024-5141, East China Normal University), Xiaodong Guo (0000-0003-2180-1985, Lanzhou University) |
| Year | 2024 |
| Volume | 30 |
| Issue | 1 |
| Pages | 174-211 |
| Publication date | 2024-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Tourism Economics (JOURNAL) |
| Journal identifiers | ISSN: 1354-8166 • E-ISSN: 2044-0375 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/13548166221138636 |
| OpenAlex | W4308915736 |
| Language | EN |
| Citations received | 1 |
| References cited | 93 |
Taking the tourism and related industry companies listed in Shanghai and Shenzhen of China from 2006 to 2019 as samples, this paper examines the impact of board interlock on corporate risk-taking and its micro-mechanism. Empirical evidence shows that board interlock can significantly improve corporate risk-taking, but the degree of influence varies from industry to industry. For the external risk sensitivity of industry, in the industry with high external risk sensitivity, the “quantity embedding” of interlocking directors has a stronger promoting effect on enterprise risk-taking. However, in industries with low external risk sensitivity, the “quality embedding” of interlocking directors has a stronger promoting effect on enterprise risk-taking. For the degree of industry competition, the more intense the industry competition, the stronger the role of board interlocks in promoting enterprise risk-taking. Further analysis shows that the intensity of information effect and the intensity of resource effect vary with the degree of information asymmetry and the type of directors
Business · China · Empirical research · Industrial organization · Interlock · Tourism · Corporate Finance and Governance · Corporate Social Responsibility Reporting · Risk Management in Financial Firms · Accounting
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| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2026 - 2026 (1) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 1 |