The impact of board structure characteristics on corporate risk

Risk runs through all aspects of enterprise operation, therefore, risk management is particularly important for enterprises. As the core control mechanism of corporate governance, the structural characteristics of the board of directors directly affect its ability to supervise and manage enterprise risks, and different structural characteristics may have differentiated effects on risk management. This article takes non-financial listed companies on the A-share market in China from 2009 to 2017 as samples, uses monthly return volatility as a proxy variable for corporate risk, selects board size and board independence as two characteristics, constructs a multiple linear regression model, and empirically analyzes the impact of board structure characteristics on corporate risk. The research results show that board size has a certain positive impact on corporate risk, while board independence has no significant effect on corporate risk.