CEO Power, Corporate Risk-Taking, and the Role of Institutional Owners: Pieces of Evidence of Tehran Stock Exchange Market and Iran Fara Bourse

"Corporate governance" includes mechanisms to monitor CEO's performance assure efficient decision adoption and maximize firm value. One of the most effective aspects is degree risk-taking. This study investigates relationship between CEO power institutional ownership with risk-taking behavior member firms Tehran Stock Exchange Iran Fara Bourse during 2010-2019 by utilizing quintile regression. According results, increase company's benefit from powerful managers, company risk (total systemic risk) will decrease. As a result, managers are eager safeguard their reputation as expert decision-makers and, they try reduce risk. In addition, existence among shareholders risk, which can be referred in agency theory. Also, if impact these two variables considered together, significantly. very fact reflects exercise influence owners. large have supervisory role discipline but despite on managers' corporate do not alter main negative relationship.