Corporate Strategy and Risk-Taking Level—Based on the Regulatory Role of Audit Quality
2021
This
paper uses the data of Shanghai and Shenzhen A-share listed companies in China
from 2010 to 2019 as a research sample to examine the impact of corporate
strategy on the level of corporate risk-taking and the moderating effect of
audit quality on the relationship between the two. We demonstrate that the
company’s strategic choice is positively correlated with the level of corporate
risk-taking, that is, the more aggressive the company’s strategy is, the higher the level of corporate risk-taking
will be; Compared with non-“Big10” audits, “Big10” audits can more effectively
restrain the impact of company strategic choices on the level of corporate risk-taking.
From the perspective of corporate strategy, this article expands the
influencing factors of the level of corporate risk-taking and supports the
importance of audit supervision in restraining risk-taking, which can provide a
certain reference for the formulation of corporate strategy and external
supervision and management.
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