We investigate the role of multiple large shareholders (MLS) in corporate risk-taking. Using a sample of publicly listed French family firms over the period 2003-2012, we show that the presence, number, and voting power of MLS are associated with higher risk-taking. Our results suggest that MLS...

This paper evaluates the influence of corporate governance on the risk taking of Japanese firms. We find that family control and ownership concentration are associated with higher idiosyncratic risk, whereas bank control has the opposite consequence. Considering the link between idiosyncratic...