بررسی رابطه بین ریسک پذیری شرکت و عملکرد مالی با تاکید بر سازوکارهای راهبری شرکتی

نوع مقاله: مقاله پژوهشی

نویسندگان

1 استادیار حسابداری دانشگاه شیراز

2 کارشناس ارشد مدیریت بازرگانی دانشگاه خلیج فارس بوشهر

چکیده

یکی از جنبه های موثر بر عملکرد شرکت ها، میزان ریسک پذیری آن ها است. این پژوهش به بررسی رابطه
بین سازوکارهای راهبری شرکتی، ریسک پذیر ی شرکت، عملکر د مال ی و هم چنین اثر سازوکارهای
راهبری شرکتی بر رابطه بین ریسک پذیری و عملکرد مالی می پردازد. برای این منظور داده های مربوط به
101 شرکت پذیرفته شده در بورس اوراق بهادار تهران برای سال های 1384 الی 1391 جمع آوری و به
روش همبستگی و با استفاده از رگرسیون خطی مورد بررسی قرار گرفت. یافته های حاصل از پژوهش نشان
داد که میزان ریسک پذیری شرکت ها رابطه مثبت و معناداری با عملکرد مالی آن ها دارد. همچنین درصد
اعضای مستقل هیات مدیره، اثر منفی و معناداری بر میزان ریسک پذیری شرکت دارد؛ ولی درصد مالکیت
سهامداران نهادی و تعداد اعضای هیات مدیره با میزان ریسک پذیری رابطه معناداری ندارند. در رابطه با اثر
ساختار هیات مدیره و مالکیت نهادی بر رابطه بین ریسک پذیری و عملکرد مالی، یافته ها نشان داد که
استقلال هیات مدیره، اندازه هیات مدیره و درصد مالکیت سهامداران نهادی بر رابطه بین ریسک پذیری و
عملکرد مالی اثر مثبتی دارند و این رابطه را تقویت می کنند.

کلیدواژه‌ها


عنوان مقاله [English]

Investigating the Relationship between Corporate Risk Taking and Financial Performance with Emphasis on Corporate Governance

نویسندگان [English]

  • H. Mahmoodabadi 1
  • Z. Zamani 2
چکیده [English]

Abstract
Corporate risk taking is important perspective related to performance.
This paper is investigating the relationship between corporate risk
taking and financial performance along with checking for the impact
of corporate governance mechanism on risk and performance linkage.
To achieve the mentioned goal 101 companies listed on Tehran Stock
Exchange over the period of 2005 to 2012 (including 808 firm- years)
were examined through correlation test and using the liner regression
model. Result show corporate risk taking have significant positive
relationship with financial performance. In addition, board
independence have significant negative relationship with corporate
risk taking; while association of Institutional investor and board size
and corporate risk taking is not significant. Findings also show that
board independence, board size and institutional investor have direct
significant impact on the relationship between corporate risk taking
and financial performance

کلیدواژه‌ها [English]

  • Institutional ownership
  • Board structure
  • Corporate risk taking
  • Financial Performance
منابع
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تأثیر ترکیب هیأت مدیره بر عملکرد با تأکید بر » .( نمازی، محمد و فهیمه ابراهیمی ( 1392
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