Information is the basis for independent directors to make correct decisions. The study found that the participation of independent directors in the shareholder meetings would help them to obtain more real information and curb the excessive risk taking phenomenon of firms caused by agency...

We investigate the unique role and mechanisms of industry growth in firms’ risk-taking policies. We find that industry growth is negatively associated with corporate risk-taking, consistent with the prospect theory that a high-growth industry gives firms a superior external environment, which...