TY  - JOUR
T1  - Evaluation the Effect of Corporate Governance on Risk Management in
Accepted Companies in Tehran Stock Exchange
AU - Jalilizadeh, Davoud AU - Karimi Pouya, Mohammad Reza 
JO  - International Business Management
VL  - 10
IS  - 17
SP  - 4050
EP  - 4058
PY  - 2016
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2016.4050.4058
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2016.4050.4058
KW  - Corporate governance
KW  -risk management
KW  -institutional ownership
KW  -systemic risk
KW  -liquidity risk
KW  -financial risk
AB  - Corporate governance aims to reduce the agency problem. Now a days, this is a commonly accepted
fact in the finance literature that risk management can lead to conflict between the companies’ managers and
shareholders. Therefore, corporate governance mechanisms are used to reduce conflicts between managers and
shareholders. This study examines the effect of corporate governance structure on risk management in 134
companies listed in Tehran Stock Exchange using panel data over 2008-2013. Institutional ownership was
considered as independent variable and systematic risk, liquidity risk and financial risk as dependent variables
of the study. Multiple regression and Ewievs6 Software were used to test the research hypotheses. The results
of the research hypotheses suggest that there is no significant relationship between systematic risk, liquidity
risk and financial risk and institutional ownership. Therefore, institutional ownership could not direct risk
management behavior. This could pave the way for important economic decisions for different groups of
stakeholders, especially investors because the determining factors derived from troubleshooting not only helps
to explain corporates behavior in the past but also provides a tool to predict the movement and future path in
this area.
ER  -