The unintended cost of data breach notification laws: Evidence from managerial bad news hoarding
Journal of Business Finance and AccountingRalf Zurbruegg
exaly
Policy uncertainty, bad news disclosure, and stock price crash risk
Journal of Empirical FinanceJeong-Bon Kim +2 more
exaly
Available-for-sale is available for hoarding: When nonfinancial firms hold financial assets
Journal of Banking and FinanceXiaoran Ni +2 more
exaly
Idiosyncratic Political Risk and Bad News Hoarding [PDF]
Financial ReviewABSTRACT Managers may respond to greater political risk by suppressing unfavorable news from outsiders to manage investors’ perceptions about firm risk and protect their careers. However, they may also avoid engaging in bad news hoarding activities because exposure to political risk increases firm visibility and attracts greater ...
Gönül Colak +2 more
exaly +7 more sources
Do external labour market incentives constrain bad news hoarding? The CEO's industry tournament and crash risk reduction [PDF]
Journal of Corporate Finance, 2020 We find that a CEO's industry tournament incentives (CITI) induce a CEO to undertake strategies that reduce the propensity of a firm to incur future stock price crash risk. CITI also has a mitigating effect on accounting techniques (such as, accrual manipulation, real earnings management, and financial restatement) used as channels for obfuscation and,
Hasibul Chowdhury +2 more
exaly +7 more sources
Does extended auditor disclosure deter managerial bad-news hoarding? Evidence from crash risk [PDF]
Journal of Corporate Finance, 2022 We examine how the mandatory adoption of extended auditor's reports (EARs) affects managerial bad-news hoarding through the lens of stock price crash risk. Relying on the UK's auditing standard change in 2013 as a quasi-natural experiment, we document a crash risk reduction for firms that were required to adopt EARs, relative to firms that were not so ...
Donghui Li, Lu Xing
exaly +4 more sources
The unintended cost of data breach notification laws: Evidence from managerial bad news hoarding
Journal of Business Finance & Accounting, 2021 AbstractWe investigate how nonfinancial disclosure laws exacerbate agency issues in firms. Our analysis focuses on the staggered adoption of state‐level notification laws that require firms to disclose data breaches. Our findings reveal that the introduction of these laws increases the risk of stock price crashes.
Ivan Obaydin, Limin Xu, Ralf Zurbruegg
core +3 more sources
Journal of Financial and Quantitative Analysis, 2023 Credit default swaps (CDS) are a major financial innovation related to debt contracting. Because CDS markets facilitate bad news being incorporated into equity prices via cross-market information spillover, CDS availability may curb firms’ information ...
Tang, Y, Liu, J, Ng, TYJ, Zhong, R
core +2 more sources
The Effect of Dividend Payments and Bad News Hoarding on Stock Price Crash Risk with an Emphasis on Information Asymmetry [PDF]
بررسیهای حسابداری و حسابرسی, 2017 This study examines the impact of dividend payments and bad news hoarding on stock price crash risk with an emphasis on information asymmetry. In this regard, 123 companies were selected for the period of 2009-2014.
Younes Badavar Nahandi +1 more
doaj +2 more sources