crash risk measured by negative skewness. This effect especially matters for CEOs whose experienced events are more salient …

-year ahead stock price crash risk. The evidence is consistent with the view that short sellers are able to detect bad news … hoarding by managers. Additional findings show that the positive relation between short interest and future crash risk is more … salient for firms with weak governance mechanisms, excessive risk-taking behavior, and high information asymmetry between …

-year ahead stock price crash risk. The evidence is consistent with the view that short sellers are able to ferret out bad news … hoarding by managers. Additional findings show that the positive relation between short interest and future crash risk is more … salient for firms with weak governance mechanisms, excessive risk-taking behavior, and high information asymmetry between …

We extend Jin and Myers’ (2006) model to derive the relation between stock price crash risk and operating leverage (i … price crash risk increases, and (ii) the negative effect of crash risk on operating leverage is more pronounced when firms … that higher crash risk leads to a less sticky cost behavior. In addition, crash-risk-driven operating deleveraging …

risk. Crash risk, defined as the conditional skewness of return distribution, captures asymmetry in risk and is important … for investment decisions and risk management. If socially responsible firms commit to a high standard of transparency and … engage in less bad news hoarding, they would have lower crash risk. However, if managers engage in CSR to cover up bad news …

crash risk and the relationship is robust for various asset, liability, and equity components of the balance sheet …. Consistent with the managerial empire-building incentive, agency problems tend to accentuate the asset growth-crash risk …

associated with abnormally high future stock price crash risk. The association between seasoned equity offerings and crash risk … relative to firms that have not recently issued equity. Our findings of elevated crash risk and diminished jump risk, when …

We investigate how a firm's corporate pledgeable asset ownership (CPAO) affects the risk of future stock price crashes …. Using pledgeable asset ownership and crash risk data for a large sample of U.S. firms, we provide novel empirical evidence … that a firm's risk of a future stock price crash decreases with an increase in its pledgeable assets. Our main findings are …

In this study, we examine the effect of social capital on stock price crash risk. We find that firms headquartered in U ….S. counties with higher levels of social capital exhibit lower levels of future stock price crash risk. This finding is … causal effect of social capital on stock price crash risk. Additionally, we find that the influence of social capital on …