Abstract:This paper selects firm downside risk and firm upside risk as proxy variables of enterprise risk, and the proportion of independent directors as a proxy variable of board governance. Using the panel data of Chinese listed companies from 2010 to 2019, a multiple linear regression model is established to empirically study the impact of supervisory function and advisory function of board governance on the downside risk and the upside risk, to test whether the two functions of the board of directors play a role in… Show more
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