Stock price crash risk review of the empirical literature
We review the related literature in Section 2. Second, a major challenge in the empirical literature on stock price crash risk is that crash risk is likely to be Yinghua Li, workshop participants at Santa Clara University, and the reviewer and participants literature as a prominent predictor of stock price crash risk is the managerial tendency to Supporting this view, empirical evidence suggests that. 11 Sep 2019 Empirical Evidence from the Fall of Suharto effect of political connections on firms' stock price crash risk. Recent Literature Review. 2.1. The present study contributes to the literature by providing empirical evidence about the role of CSR in stock price crash risk from an Islamic and developing country. 2014). In line with the previous studies, this study aims to review whether. The Accounting Review: July 2019, Vol. 94, No. (2020) Short-sale constraints and stock price crash risk: Causal evidence from a natural experiment. Journal
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Part four is the empirical results of our paper. And part five is the conclusion. 2. Literature Review and Research Hypothesis. 2.1. Literature Review. 2.1.1. Crash 25 Feb 2014 firm-specific stock price crash risk and another stream of research that examines the and the reviewer and participants of the 2012 American Accounting Association A few empirical studies find evidence suggesting that. Stock price crash risk: review of the empirical literature. Accounting and Finance, 57(2), 1-41. Hayward, M. L. A., Rindova, V. P., & Pollock, T. G. (2004). Believing 16 Aug 2017 measures of stock price crash risk and corporate environmental The second section reviews the literature and develops the research hypotheses. The third section introduces the empirical models and variables. In the fourth
Keywords: Board of Directors, Independent Director, Stock Price Crash Risk. literature as a prominent predictor of stock price crash risk is the managerial tendency of withholding bad news from LITERATURE REVIEW. Stock An empirical analysis of the relation between the board of director composition and financial.
Originality/value This study adds to the extant literature on the determinants of stock price crash risk and is the first to examine the impact of internal auditors on stock price crash risk. Stock price crash risk: review of the empirical literature We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We find that stock liquidity increases stock price crash risk. To identify the causal effect, we use the decimalization of stock trading as an exogenous shock to liquidity. This effect is increasing in a firm’s ownership by transient investors and nonblockholders. future stock price crash risk and shed light on how social norms interact with corporate monitoring mechanisms to reduce agency costs. Our study contributes to the literature in several ways. First, to our knowl-edge, this is the first study to assess the relation between religion and future crash risk.
6 Jun 2017 Abstract We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk.
We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We find that stock liquidity increases stock price crash risk. To identify the causal effect, we use the decimalization of stock trading as an exogenous shock to liquidity. This effect is increasing in a firm’s ownership by transient investors and nonblockholders. future stock price crash risk and shed light on how social norms interact with corporate monitoring mechanisms to reduce agency costs. Our study contributes to the literature in several ways. First, to our knowl-edge, this is the first study to assess the relation between religion and future crash risk. Empirical evidence supports the bad news hoarding theory of stock price crash risk by showing that accrual manipulation, corporate tax avoidance activities, institutional investor instability and a less-religious head-office milieu act to increase future firm-specific crash risk (Hutton et al., 2009, Kim et al., 2011a, Callen and Fang, 2013a, Callen and Fang, 2013b). It enhances our understanding of the potential predictors of stock price crash risk and finds an important but neglected factor, social trust, in predicting crash risks. Second, this study is among the few in the finance and accounting literature to investigate the role of social trust in managerial decisions.
1 Aug 2016 PDF | On Aug 1, 2016, Ahsan Habib and others published Stock price crash risk: Review of the empirical literature | Find, read and cite all the
It enhances our understanding of the potential predictors of stock price crash risk and finds an important but neglected factor, social trust, in predicting crash risks. Second, this study is among the few in the finance and accounting literature to investigate the role of social trust in managerial decisions. We survey the burgeoning literature on the determinants and consequences of firm-specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. abstract = "We survey the burgeoning literature on the determinants and consequences of firm-specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We find that stock liquidity increases stock price crash risk. To identify the causal effect, we use the decimalization of stock trading as an exogenous shock to liquidity. This effect is increasing in a firm’s ownership by transient investors and nonblockholders. Specifically, this paper explores whether relationship spending enhances a firm's information transparency and stakeholder trust, thereby reducing stock price crash risk, or alternatively, if it is more consistent with information opacity and corporate corruption, thus increasing stock price crash risk. 3. Empirical Research on Volatility in Stock Returns: This segment presents the empirical review of the literature on volatility of stock returns. First, empirical research on the heteroscedastic character of stock returns volatility is examined. Many studies have shown that volatility of stock returns varies over time.
29 Jan 2020 Most of the theoretical studies predict a positive relation between short‐sale constraints and stock price crash risk. However, the empirical Stock price crash risk: review of the empirical literature. Ahsan Habib. We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We survey the burgeoning literature on the determinants of future stock price crash risk in the US, as well as in countries outside the US. Stock price crash risk, a manifestation of extreme negative values in the distribution of firm-specific returns, has attracted considerable research interests. A large and growing body of literature has examined what determines stock price crash risk, reflecting the increasing importance of this issue to academics and practitioners (e.g.,Habib et al., 2016).Chen et al. (2001)find that the trading volumes and returns over the past several months can forecast future crashes. Originality/value This study adds to the extant literature on the determinants of stock price crash risk and is the first to examine the impact of internal auditors on stock price crash risk. Stock price crash risk: review of the empirical literature We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities. We survey the burgeoning literature on the determinants and consequences of firm‐specific future stock price crash risk. We synthesise a vast body of literature on the determinants of crash risk, identify weaknesses, and offer future research opportunities.