Results 251 to 260 of about 100,218 (293)
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Customer Concentration and Stock Price Crash Risk
SSRN Electronic Journal, 2018Abstract 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 +2 more
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Common Institutional Ownership and Stock Price Crash Risk
SSRN Electronic Journal, 2023AbstractThis 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 +3 more
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Superstition and stock price crash risk
Pacific-Basin Finance Journal, 2020Abstract 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 +3 more
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Religion and Stock Price Crash Risk
Journal of Financial and Quantitative Analysis, 2015AbstractThis 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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Industry tournament incentives and stock price crash risk
Financial Management, 2020AbstractTheoretical and empirical studies argue that managerial hoarding of negative firm‐specific information can result in large negative stock price corrections once the accumulated information is revealed. A managerial labor market with tournament‐like progression provides managers with the incentive to withhold negative information.
Thomas R. Kubick, G. Brandon Lockhart
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Trade Secrets Protection and Stock Price Crash Risk
SSRN Electronic Journal, 2019AbstractThis paper provides evidence that the trade secrets protection increases stock price crash risk. Using a quasi‐experimental setting with the Uniform Trade Secrets Act (UTSA), we find that firms headquartered in states adopting the UTSA tend to have higher stock price crash risk. The results are robust to controlling for other trade secrets laws
Dan Hu, Eunju Lee, Bingxin Li
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Audit Effort and Stock Price Crash Risk
Abacus, 2023We examine how stock price crash risk is affected by audit effort, as measured by audit hours. Using a unique dataset of audit hours in China, we find that audit effort is negatively related to crash risk. The negative impact of audit effort on crash risk is more pronounced for listed firms that have higher inherent risks and weaker external monitoring
Xiaomei Han +3 more
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Investor Overconfidence and Stock Price Crash Risk
Journal of Accounting LiteraturePurpose 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 +4 more
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Margin-Trading Volatility and Stock Price Crash Risk
SSRN Electronic Journal, 2019Abstract Previous studies rarely discuss the effect of margin trading on future stock price crash risk, though margin trading is often blamed for destabilizing stock market. We propose three possible mechanisms through which margin trading may affect crash risk.
Dayong Lv, Wenfeng Wu
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CDS Trading and Stock Price Crash Risk
SSRN Electronic Journal, 2017In this paper, we examine the impact of credit default swap (CDS) trading on the equity market in terms of stock price crash risk. We document that stock price crash is less likely after the inception of CDS trading. This evidence is consistent with the hypothesis that CDS prices reveal negative information that firms intend to hide, and information ...
Jinyu Liu +3 more
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