Results 261 to 270 of about 140,956 (306)

Stock price crashes in emerging markets

International Review of Economics & Finance, 2021
Abstract This paper studies large price declines of individual stocks in 22 emerging markets. Using analyst reports as a proxy for information arrivals, we find that majority of crashes in emerging markets are not accompanied by information events, and these crashes are followed by price reversals. Further analyses show that crashes in countries with
Min Bai, Yafeng Qin, Huiping Zhang
openaire   +2 more sources

Intangible Intensity and Stock Price Crash Risk

SSRN Electronic Journal, 2019
Abstract We evaluate the association between intangible intensity and stock price crash risk for U.S. listed firms from 1983 to 2017. The results show that intangible-intensive firms are associated with high crash risk. The decomposition of intangible intensity identifies goodwill as the driving force and documents its predictability for future ...
Kai Wu, Seiwai Lai
openaire   +1 more source

Customer Concentration and Stock Price Crash Risk

SSRN Electronic Journal, 2018
Abstract We investigate the impact of customer concentration on stock price crash risk. Customer concentration may represent a source of significant cash flow and business risk for supplier firms or benefit supplier firms in terms of efficient product, inventory and supply chain management.
Sang Mook Lee, Pornsit Jiraporn, Hakjoon Song   +2 more
openaire   +1 more source

Superstition and stock price crash risk

Pacific-Basin Finance Journal, 2020
Abstract We investigate a new channel that leads to firm-specific stock price crash risk. By using Chinese superstition towards unlucky numbers as a platform for our analysis, we find that investor overreaction to negative news from firms with unlucky listing codes is a mechanism through which superstition affects crash risk.
Min Bai, Limin Xu, Chia-Feng (Jeffrey) Yu, Ralf Zurbruegg   +3 more
openaire   +1 more source

After-Hours Stock Prices and Post-Crash Hangovers

The Journal of Finance, 1991
ABSTRACTAfter‐hours pricing in foreign equity markets of multiple‐listed U.S. securities appeared to be efficient in predicting New York prices in the weeks immediately following the October 1987 crash but relatively uninformative in succeeding months.
Neumark, David, Tinsley, P A, Tosini, Suzanne   +2 more
openaire   +1 more source

Common Institutional Ownership and Stock Price Crash Risk

SSRN Electronic Journal, 2023
AbstractThis paper presents new evidence on the economic benefits arising from common institutional ownership. We find a negative and significant effect of common institutional ownership on stock price crash risk. This effect is robust to a battery of robustness checks and is causal according to some identification tests, including difference‐in ...
Shenglan Chen, Hui Ma, Qiang Wu, Hao Zhang   +3 more
openaire   +1 more source

Religion and Stock Price Crash Risk

Journal of Financial and Quantitative Analysis, 2015
AbstractThis study examines whether religiosity at the county level is associated with future stock price crash risk. We find robust evidence that firms headquartered in counties with higher levels of religiosity exhibit lower levels of future stock price crash risk.
Jeffrey L. Callen, Xiaohua Fang
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How Does Management Respond to Stock Price Crashes?

SSRN Electronic Journal, 2023
PurposeThe purpose of this study is to investigate (1) how managers respond to stock price crashes, (2) why they respond and (3) how their responses affect shareholders.Design/methodology/approachThis study employs a panel regression with various firm-level controls and firm- and year-fixed effects.
Suvra Roy, Ben R. Marshall, Hung T. Nguyen, Nuttawat Visaltanachoti   +3 more
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Systematic pricing during the stock crash

Journal of Business Research, 1990
Abstract The relative response of stocks of Standard & Poor's 500 firms to the stock market crash on “Black Monday” (October 19, 1987) is examined. A significant correlation is found between the percentage decline in stock prices on Black Monday and the stocks' historically estimated betas.
John M. Harris, Michael F. Spivey
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Investor Overconfidence and Stock Price Crash Risk

Journal of Accounting Literature
Purpose The paper investigates how investor overconfidence affects stock price crash risk. Design/methodology/approach Following Adebambo and Yan (2018), we use mutual fund data from Thomson Financial, CRSP Survivorship Bias Free ...
Hasibul Chowdhury, Khoa Hoang, Ronghong Huang, Xiaowen Peng, Suichen Xu   +4 more
openaire   +1 more source