Results 291 to 300 of about 101,530 (333)
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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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Brand Capital and Stock Price Crash Risk
Management Science, 2022We examine the relationship between brand capital and stock price crash risk. Crash risk, defined as the negative skewness in the distribution of returns for individual stocks, captures asymmetry in risk, and has important implications for investment choices and risk management. Using a sample of 39,685 publicly listed U.S.
Mostafa Monzur Hasan +2 more
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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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Price-Fixing Agreements and Stock Price Crash Risk
Global Conference on Business and Social Sciences ProceedingThis paper examines the relationship between cartel engagement and stock price crash risk by investigating managerial behaviour in withholding negative information within cartel firms. Utilizing an extensive dataset of 145 U.S. companies involved in 208 international cartel conspiracies identified between 1985 and 2016, this study adopts firm-specific ...
Ni Nyoman Ayu Diantini +2 more
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Tournament Incentives and Stock Price Crash Risk
Accounting Horizons, 2018SYNOPSIS Using a large sample of U.S. public firms, I provide robust evidence that promotion-based tournament incentives, which are measured as the pay gaps between the CEO and other senior executives, are significantly and positively related to the firm's future stock price crash risk.
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