相关网络嵌入了企业集团的决策权力分配和风险承担
Ning Wang1,2, Fengjuan Wang1
1Business School, Beijing Technology and Business University, Beijing, China.
PloS one
|May 8, 2025
概括
在企业集团中集中决策通过改善内部资本配置和抑制多元化投资来降低整体风险. 网络结构可以进一步增强这些风险减轻效应.
科学领域:
- 企业金融公司财务
- 组织结构 组织结构
- 风险管理 风险管理
背景情况:
- 企业集团经常面临复杂的冒险行为.
- 决策权力的内部分配显著影响公司战略和风险.
- 了解这些动态对于减轻金融和经济风险至关重要.
研究的目的:
- 调查集中决策对企业集团风险承担的影响.
- 分析内部资本市场在这种关系中的调解作用.
- 探索内部董事网络和机构投资者网络的调节效应.
主要方法:
- 对A股上市母子公司 (2010-2022) 的分析.
- 开发一个经过调节的调解模型,并建立一个关联网络.
- 审查内部资本市场机制,包括投资多元化和分配效率.
主要成果:
- 集中决策结构与整体风险概况降低相关.
- 内部资本市场通过抑制多元化投资和提高资本配置效率来降低风险.
- 内部董事网络提高内部资本市场的效率,而机构投资者网络加强降低风险.
结论:
- 集中的权威和高效的内部资本市场是降低企业风险的关键.
- 网络结构在调节内部资本市场的有效性方面发挥着重要作用.
- 调查结果提供了预防和减轻重大经济和金融风险的策略.
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