stock price crash risk. Earnings management and algorithmic trading are the two key channels of impact. We also show that … sophisticated investors such as short-sellers are informed about the reduction of crash risk and reduce their short-selling in … treatment firms. We confirm a reversal in crash risk when the tick-size program ends in 2018. These findings provide strong …

The existing literature studies the relationship between institutional investors and the risk of stock price crash from … the research samples to explore the relationship between institutional common ownership and stock price crash risk. The … results show that: institutional common ownership significantly increases the risk of stock price crash. After a series of …

risk in China. Auditors in China are required to issue an expanded audit report that contains KAMs for AH-share firms … crash risk. We also show that our findings are not sensitive, but are robust to firms’ information environment, corporate …

This study investigates the influence of CEO stock donation on firm-specific crash risk. We document a robust positive …

This study investigates how the dual principal-agent problem is associated with stock price crash risk in China … management shareholding ratio and equity restriction ratio on stock price crash risk based on theories including "bad news hiding … ratio and equity restriction ratio lead to higher stock price crash risk for the firm, providing prediction power for future …

This study examines the effect of employee treatment on stock price crash risk based on the framework of stakeholder …-friendly treatment is negatively associated with crash risk. Our empirical findings are robust to multi-way fixed effects, instrumental … variables, alternative proxies for crash risk and employee treatment, and various other approaches to address endogeneity and …

risk. Using a newly-developed takeover index from Cain, McKeon, and Solomon (2017) that comprehensively considers existing … variables, we find an increase in takeover susceptibility reduces firms’ future stock price crash risk. Such evidence help … susceptibility reduces crash risk by curtailing managerial empire-building motives and constraining the usage of manipulative …