Proceedings of the 2025 7th International Conference on Economic Management and Model Engineering (ICEMME 2025)

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Can a Subsidiary’s Autonomy Affect its Strategic Risk-taking? Evidence from China

Authors
Tianyu Zhang1, *, Zixun Liu1, Weiping Liu2, Yunhan Wang3, Yunxi Wang3
1School of Management, Shandong University, 250100, Jinan, Shandong, China
2Party School of State Grid Corporation of China, Beijing, Nanshao Town, Changping District, 102200, China
3University of Birmingham, Birmingham, B15 2TT, UK
*Corresponding author. Email: 202013152@mail.sdu.edu.cn
Corresponding Author
Tianyu Zhang
Available Online 13 March 2026.
DOI
10.2991/978-94-6239-602-9_32How to use a DOI?
Keywords
subsidiaries’ autonomy; strategic risk-taking; resources acquisition capacity; business groups
Abstract

Does a subsidiary’s autonomy affect its strategic risk-taking? Aiming to answer this question, this study considers the data for the 2007-2020 period of the A share firms listed on Shanghai and Shenzhen stock exchanges. The study finds that subsidiaries’ autonomy positively affects subsidiaries’ strategic risk-taking. This relationship holds even after several robustness checks were performed. The context test’s results show that subsidiaries’ redundant resources positively moderate the relationship between a subsidiary’s autonomy and its strategic risk-taking. Then, this study also explores the potential mechanisms of these relationships, and demonstrates that a subsidiary’s resources acquisition capability plays the mediator’s role to promote its strategic risk-taking. In addition, we also demonstrate the positive governance effects of a subsidiary’s strategic risk-taking on its performance.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 7th International Conference on Economic Management and Model Engineering (ICEMME 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
13 March 2026
ISBN
978-94-6239-602-9
ISSN
2352-5428
DOI
10.2991/978-94-6239-602-9_32How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Tianyu Zhang
AU  - Zixun Liu
AU  - Weiping Liu
AU  - Yunhan Wang
AU  - Yunxi Wang
PY  - 2026
DA  - 2026/03/13
TI  - Can a Subsidiary’s Autonomy Affect its Strategic Risk-taking? Evidence from China
BT  - Proceedings of the 2025 7th International Conference on Economic Management and Model Engineering (ICEMME 2025)
PB  - Atlantis Press
SP  - 338
EP  - 351
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-602-9_32
DO  - 10.2991/978-94-6239-602-9_32
ID  - Zhang2026
ER  -