convexity results in a 21% increase in a firm's crash risk after controlling for managerial price-increasing incentives. In … positive jump risk. We exploit an exogenous shock to compensation convexity, arising from a change in the expensing treatment … suggest that managerial equity compensation portfolios do not augment a firm's future idiosyncratic crash risk because they …

future stock risk and returns for a large sample of firms between 1992 and 2004. On average, both higher PPS and higher Vega … are associated with lower future stock returns. Part of this negative relation may be due to a reduction in risk induced … by risk-averse managers responding to increases in the sensitivity of their wealth to equity value. Confirming this …

stock price crash risk. In contrast, we find only weak evidence of the positive impact of chief executive officer option … sensitivity on crash risk. Finally, we find that the link between CFO option sensitivity and crash risk is more pronounced for …

risk of a sector that is caused not by a direct change in that sector but by a change in another sector that affects the … composition of the stock market. In the paper we investigate the pre and during crisis market risk of the industrial, banking and … market risk of industrials during the crisis and both the pre-crisis market risk of the banking sector and the scale of the …

The informativeness of risk factor disclosures is a subject of debate. We predict and find that risk factor disclosures … in 10-K filings reduce the chance of a large negative movement in stock prices—stock price crash risk. This effect is … with higher information asymmetry, litigation risk, short interest, or better corporate governance. Overall, our findings …

the stock options granted to the latter. This difference can be explained by the risk premium that technology CEOs have in …