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Employee quality and stock price crash risk
Asia-Pacific Journal of Accounting & Economics, 2021Employees are practitioners of firm activities and play an important role in corporate governance, and their quality will affect stock price crash risk.
Liangcheng Wang+3 more
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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 ...
Jeffrey Ng+3 more
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Large Blockholders and Stock Price Crash Risk
SSRN Electronic Journal, 2019This paper examines the relationship between large blockholders and stock price crash risk for the entire population of non-financial companies listed on the Swiss Exchange for the period 2003-2016. The results show that firms held by a large blockholder have a lower firm-specific crash risk than widely held firms, and the higher the proportion of ...
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Stock price synchronicity and stock price crash risk
China Finance Review International, 2016Purpose– The purpose of this paper is to empirically analyze the effects of stock price synchronicity and herding behavior of qualified foreign institutional investors (QFII) on stock price crash risk, especially the mediating effect of herding behavior of QFII on the relation of stock price synchronicity and stock price crash risk.Design/methodology ...
Yonghong Jin+3 more
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Do dividends mitigate bad news hoarding, overinvestments, and stock price crash risk?
Accounting & FinanceUsing a large sample of US firms over the period of 1991–2015, we examine the economic benefits of paying dividends. We find that dividend payments mitigate stock price crash risk. We show that dividend payments reduce bad news hoarding (overinvestments)
Jeong-Bon Kim, Le Luo, Hong Xie
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Stakeholder orientation and stock price crash risk
Finance Research Letters, 2020Abstract This paper examines the asset pricing implication of stakeholder orientation. We exploit the staggered adoption of constituency statues across U.S. states as an exogenous source of variation in stakeholder orientation. The enactment of constituency statues leads to a significant decrease in firm's stock price crash risk relative to ...
Jian Zhang, You Li
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Stock price crash risk research: current trends and future directions
The Journal of Risk FinancePurposeUnderstanding and mitigating stock price crash risk is vital for investors and regulators to ensure financial market stability. This study aims to unveil significant research trends and opportunities.Design/methodology/approachThis study adopts ...
Anjali Srivastava+3 more
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Income-shifting arrangements of US multinational corporations and future stock price crash risk
Journal of Accounting LiteraturePurposeThis study examines the importance of income income-shifting arrangements of US multinational corporations (MNCs) on future stock price crash risk.Design/methodology/approachThis study employs a sample of 7,641 corporation-year observations over ...
Grant Richardson+2 more
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Internal coalition and stock price crash risk
Journal of Corporate Finance, 2020Abstract We examine the impact of internal coalition, measured by the appointment of the top executives and directors by the CEO after he assumes office, on stock crash risk during 2000–2014. The appointment-based internal coalition has a positive and significant impact on stock crash risk.
Yulei Rao+3 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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