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...

Purpose: This study aims to explore the effects of director liability reduction (DLR) laws on corporate innovation strategies in South Korea. Design/methodology/approach: Regression analysis is used to investigate the effects of the directors' liability reduction coverage on the corporate...