When they can no longer withhold such news, extreme negative returns and a stock price crash (SPC) follow. This study explores whether a favorable corporate governance (CG) mechanism helps reduce SPC risk. The findings reveal that CG affects SPC risk. Moreover, the effects of institutional ...
Crash risk Financial reporting transparency a b s t r a c t This study investigates whether corporate social responsibility (CSR) mitigates or contributes to stock price crash risk. Crash risk, defined as the conditional skewness of return distribution, captures asymme- try in risk and is im...
We find that firms with a larger proportion of short-term debt have lower future stock price crash risk, consistent with short-term debt lenders playing an effective monitoring role in constraining managers' bad-news-hoarding behaviour. The inverse relationship between short-maturity debt and future...
Using the data from the listed companies in Chinese stock market from 2010 to 2012,this paper empirically tested the correlation with the CSR and stock price crash risk. We find that CSR can reduce the stock price crash risk. In addition,the negative relationship between the CSR and the stock...
Corporate Social Responsibility Disclosure and Stock Price Crash Risk: Self-interest tool or Value Strategy? [J]. Economic Research Journal, 2015, 11: 49... 权小锋,吴世农,尹洪英 被引量: 0发表: 0年 A Langevin approach to stock market fluctuations and crashes We propose a non linear Langevin ...
This study investigates the effect of corporate hedging on stock price crash risk. We test two competing hypotheses. Under the transparency hypothesis, hedgingdoi:10.2139/ssrn.3262842Kim, Jeong-BonSi, YiXia, ChongwuZhang, LeiSocial Science Electronic Publishing...
firms for the period 1995–2008, we provide strong and robust evidence that corporate tax avoidance is positively associated with firm-specific stock price crash risk. This finding is consistent with the following view: Tax avoidance facilitates managerial rent extraction and bad news hoarding...
This study provides the empirical evidence on the impact of big data analytics (BDA) on firm risk. Using a combination of deep learning and text mining, we construct BDA indicators for a sample of Chinese A-share listed companies from 2003 to 2019. We find a significant positive relationship...
Our first strategy is to control for firm fixed effects throughout our regression analyses to mitigate the concern about the unobserved time-invariant firm characteristics that may affect both stock pledge and innovation. We find that the negative relationship between the stock pledge and innovation is...
Taxes and business strategy: A planning approach (4th ed.), Pearson Prentice-Hall, Upper Saddle River, N.J (2009) Google Scholar Shevlin, 1987 T. Shevlin Taxes and off-balance-sheet financing: Research and development limited partnerships The Accounting Review, 62 (3) (1987), pp. 480-509...