{"title":"ANALYSIS STRATEGY CONFIGURATIONS IN RISK TAKING USING FUZZY SET QUALITATIVE COMPARATIVE ANALYSIS MODEL","authors":"Gang Yang, Xueyan Bai, Shiyu Yang","doi":"10.3846/tede.2023.18779","DOIUrl":null,"url":null,"abstract":"Risk-taking is a key factor in corporate competitive advantage, and economic development. The type of strategic configuration that can drive high-level risk-taking is a problem worthy of attention. This study takes 2,219 listed firms in China as samples and performs a fuzzy set qualitative comparative analysis (fsQCA) to explore the linkage effect and path choice of strategic change, corporate social responsibility, innovation, diversification, and financialization with corporate risk-taking (CRT). It finds that: (a) a single strategy does not constitute a necessary condition for high-level CRT; (b) three types of adaptive schemes exist for high-level CRT, among which the risk-taking level is the highest under the path of “Innovation, diversification, and financialization”; and (c) the driving paths of CRT in different regions, industries, and ownership show obvious differences.","PeriodicalId":51460,"journal":{"name":"Technological and Economic Development of Economy","volume":"2013 1","pages":""},"PeriodicalIF":4.8000,"publicationDate":"2023-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Technological and Economic Development of Economy","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.3846/tede.2023.18779","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 1
Abstract
Risk-taking is a key factor in corporate competitive advantage, and economic development. The type of strategic configuration that can drive high-level risk-taking is a problem worthy of attention. This study takes 2,219 listed firms in China as samples and performs a fuzzy set qualitative comparative analysis (fsQCA) to explore the linkage effect and path choice of strategic change, corporate social responsibility, innovation, diversification, and financialization with corporate risk-taking (CRT). It finds that: (a) a single strategy does not constitute a necessary condition for high-level CRT; (b) three types of adaptive schemes exist for high-level CRT, among which the risk-taking level is the highest under the path of “Innovation, diversification, and financialization”; and (c) the driving paths of CRT in different regions, industries, and ownership show obvious differences.
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