TAILIEUCHUNG - The economic freedom, corporate governance and risk-taking behavior: Evidence from the European life insurance industry

Prior studies have documented that risk-taking behavior is a determinant of firmlevel corporate governance. However, the country-level corporate governance to risk-taking behavior has not been well examined. The main topic of this study not only intends to examine the relation between corporate governance and risk taking behavior but also investigates whether this relation can be influenced by the economic freedom. Using a sample of 552 EU life insurers over 1995–2016 periods, consistent with the expectation, the results support that insurers with good corporate governance tend to take risk-taking, and those with higher economic freedom dependence tend to maintain higher risk-taking. In addition, firms in high economic freedom countries have more opportunities to take risk, further have significant negatively relationship between country-level risk-taking behavior and shareholder ownership concentration. Given that better corporate governance is instrumental in taking risk, firms in high economic freedom countries have more opportunities to risk taking. | The economic freedom corporate governance and risk-taking behavior Evidence from the European life insurance industry

• Kinh tế học
• Corporate governance
• Economic freedom
• Risk taking behavior
• European life insurance industry
• Opportunities to risk taking
• Corporate ethics
• Lecture Corporate governance and ethics
• Corporate governance rating
• External governance
• Integrated aspect
• Corporate governance manual
• General governance structure of a company
• Introduction to shareholder rights
• Material corporate transactions
• Corporate sustainability reporting
• Corporate social responsibility
• Global reporting initiative
• International Conference on Emerging Challenges
• Corporate governance quality
• Corporate governance index
• State owned enterprises
• Chief audit executive
• Chief risk officer
• Corporate development officer
• Corporate governance disclosure index
• Commercial banks
• Commercial banking sector
• Corporate governance practices
• Market system
• Free enterprise system
• Capital markets
• Business ethics
• Code of ethics
• Conference board
• Business judgment rule
• CEO duality
• Duty of care
• Audit committee
• Compensation committee
• Enterprise risk management
• Đạo đức kinh doanh
• Quản trị doanh nghiệp
• Regulatory bodies
• Internal audit
• External auditors roles
• External auditors
• Stakeholders’ roles
• Association of investment
• Chief information officer
• Finance committee
• Information infrastructure