Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/288721 
Year of Publication: 
2022
Citation: 
[Journal:] Cogent Business & Management [ISSN:] 2331-1975 [Volume:] 9 [Issue:] 1 [Article No.:] 2064263 [Year:] 2022 [Pages:] 1-59
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Risk-taking is a topic that has been studied for many years in finance under the famous slogan in the financial industry "Higher risk, higher return". Nevertheless, empirical results have shown different scenarios. Using a sample of 56 researches with 406 studies covering millions of companies globally in the period from 2010 to 2020, this study applies a meta-analysis approach-a synthetic analysis approach to better understand the relationship between risk-taking and corporate return. Specifically, the studied risk-taking variables are: Leverage, Research and Development costs (R&D), and Firm Size; besides, the corporate return variables are Return on Assets (ROA), Return on Equity (ROE), Return on Sales (ROS), and Profit After Tax (PAT) standing for Accounting performance measures and Tobin's Q and Market to Book Value (MBV) standing for Market performance measures. Finally, the results have shown that Leverage, R&D, and Size have decent impacts on corporate returns, both Accounting performance and Market performance. Despite having some limitations, the study has provided critical insights into the literature review and established a big picture of the relationship between risk-taking and corporate return.
Subjects: 
firm size
leverage
Meta-analysis
performance
R&D
risk-taking
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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