This paper aims to investigate the behaviour of the board regarding the effective identification and governance of risk … achieved by constructing a risk governance index for a given corporation. The various elements affecting risk governance by the … board of directors are captured in the risk governance index. For each board, we assign a value for each risk governance …

This paper conducts a systematic analysis of the effect of CEO tenure on risk-taking. We document an overall positive … relation between tenure and risk-taking. The results are inconsistent with viewing tenure primarily as an indicator of human … and recent theoretical work, we show that the effect of CEO tenure on risk-taking depends on the information asymmetry …

Based on theoretical advice and empirical evidence suggesting that risk-taking in asset allocation enhances pension … take more risk by investing heavily in equities and allocating a smaller share of the plan assets to cash, government debt …

In an "activist risk arbitrage," a shareholder attempts to reshape an announced M&A through public campaigns, profi …

disproportionately contributes to stock illiquidity. This impact is mainly prominent for high-risk companies, small firms and firms in …

-level risk. Hedge fund activists often pursue a restructuring of the target firms, which may increase the riskiness of the firm … create ex-ante inefficiencies by altering the incentives-risk sharing tradeoff of the manager's compensation contract …

We examine how the market values operating assets in the presence of time-varying ex ante risk that these assets may be … fixed assets on the publicly listed firm’s balance sheet. Our results show that in periods when the risk of tunneling from …

Effective management of risk especially tax risk is arguably hinged on a framework of corporate governance that ensures … constituting a standalone risk management committee and tax aggressiveness in nonfinancial listed companies in Nigeria. A … study, and the finding agrees with the expectation of the agency theory that the presence of a standalone risk committee …

risk in addition to systematic risk. In this paper, we assume that these shareholders require private benefits to … compensate for the additional risk. We propose a simple equilibrium model of private benefits that highlights how the … idiosyncratic risk borne by a family blockholder impacts the amount of required private benefits and, ultimately, the market value …