Yeung, Wing Him; Lento, Camillo - In: Managerial Finance 44 (2018) 8, pp. 1012-1030
Purpose: The purpose of this paper is to examine stock price crash risk (SPCR) as a function of meeting or missing three earnings thresholds – reporting a profit (earnings level), reporting an earnings increase (earnings change) and meeting analysts’ forecasts (earnings expectation)....