Although the causes of stock price crashes have been investigated, the examination of their economic consequences has been neglected. In this study, the impacts of stock price crashes on internal governance mechanisms are examined with regard to accounting conservatism in a sample of listed...

Since the financial crisis of 2008, financial flexibility has gradually become a crucial method employed by enterprises worldwide to resist external risks. Based on a sample of Chinese listed companies from 2005 to 2015, this study investigates the impacts of financial flexibility on firm’s...