Kong, Xiangting; Tan, Jinsong; Zhang, Jingxin - In: China journal of accounting research : CJAR 15 (2022) 2, pp. 1-25
We investigate the unique role and mechanisms of industry growth in firms’ risk-taking policies. We find that industry …, including long-term, high-value investments, operational efficiency and cash holdings in response to high industry growth …. Overall, our results are consistent with industry growth negatively affecting corporate risk-taking. …