Han, Xun; Meng, Lingfeng; Xing, Yue; Zhu, Feifei - 2023
This paper investigates the effects of the new asset management regulation on stock price crash risk using data from … significantly curtails crash risk, particularly for firms deeply engaged in shadow banking businesses. Two pivotal mechanisms emerge … banking, thereby constraining firms’ high-risk investments and the ensuing crash risk. Second, it propels an increase in …