Analysis strategy configurations in risk taking using fuzzy set qualitative comparative analysis model

    Gang Yang Affiliation
    ; Xueyan Bai   Affiliation
    ; Shiyu Yang Affiliation


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.

Keyword : risk-taking, corporate strategy, fsQCA, innovation, corporate social responsibility, strategic change, diversification, financialization

How to Cite
Yang, G., Bai, X., & Yang, S. (2023). Analysis strategy configurations in risk taking using fuzzy set qualitative comparative analysis model. Technological and Economic Development of Economy, 29(3), 981–1004.
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Apr 26, 2023
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This work is licensed under a Creative Commons Attribution 4.0 International License.


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