Corporate strategy and stock price crash risk

被引：7
|
作者：
Zhao, Zhichao [1 ]
Zhang, Yigang [2 ]
Tang, Huimin [3 ]
Liu, Peng [4 ]
Wang, Xiaoran [2 ]
Wang, Xizhe [5 ]
机构：
[1] Renmin Univ China, Law Sch, Beijing 100872, Peoples R China
[2] Qufu Normal Univ, Law Sch, Rizhao 276826, Peoples R China
[3] Univ Int Business & Econ, Sch Int Trade & Econ, Beijing 100029, Peoples R China
[4] East China Univ Polit Sci & Law, Acad Chinas Rule of Law, Shanghai 201600, Peoples R China
[5] Shandong Univ Technol, Sch Econ, Zibo 255000, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 61卷
关键词：
Stock price crash risk; Corporate strategy; Nature of property rights;
D O I：
10.1016/j.frl.2024.105002
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Based on A-share listed companies in China from 2011 to 2021, this paper explores the relationship between corporate strategy and stock price crash risk. The study finds that aggressive strategies increase the risk of stock price crash, but this effect is relatively small in state-owned enterprises. In addition, there is a partial mediating effect between external financing needs and equity incentive intensity. Our findings are of great significance for understanding the relationship between corporate strategy and stock price crash risk.
引用
收藏
页数：7
相关论文
共 50 条
  • [41] Party leadership, corporate governance and stock price crash risk: Evidence from China
    Zhang, Li
    Liu, Chengyi
    Zhang, Jinjin
    Ke, Jinjun
    Yuan, Jiayue
    INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2023, 88
  • [42] Corporate Social Responsibility Disclosure and Stock Price Crash Risk: Evidence from China
    Dai, Jingwen
    Lu, Chao
    Qi, Jipeng
    SUSTAINABILITY, 2019, 11 (02)
  • [43] Information asymmetry on the link between corporate social responsibility and stock price crash risk
    Cao, Thuy
    Nguyen, Hoang
    Nguyen, Khuong
    Nguyen, Liem
    COGENT ECONOMICS & FINANCE, 2023, 11 (02):
  • [44] Green Credit Policy and Corporate Stock Price Crash Risk: Evidence From China
    Zhang, Wei
    Liu, Yun
    Zhang, Fengyun
    Dou, Huan
    FRONTIERS IN PSYCHOLOGY, 2022, 13
  • [45] The impact of corporate culture on stock price crash risk: a firm-level analysis
    Chen, Mengjiao
    Ren, Jinjuan
    Zhao, Jingying
    INTERNATIONAL JOURNAL OF ACCOUNTING AND INFORMATION MANAGEMENT, 2024, 32 (01) : 1 - 18
  • [46] Corporate tax avoidance and stock price crash risk: Firm-level analysis
    Kim, Jeong-Bon
    Li, Yinghua
    Zhang, Liandong
    JOURNAL OF FINANCIAL ECONOMICS, 2011, 100 (03) : 639 - 662
  • [47] The effect of suppliers' corporate social responsibility concerns on customers' stock price crash risk
    Chen, Huimin
    Karim, Khondkar
    Tao, Anqi
    ADVANCES IN ACCOUNTING, 2021, 52
  • [48] Corporate social responsibility and stock price crash risk: does analyst coverage matter?
    Yang, Minghui
    Chen, Shaoming
    Wang, Jiawen
    Wang, Yan
    APPLIED ECONOMICS, 2023, 55 (10) : 1045 - 1061
  • [49] Corporate social activities and stock price crash risk in the banking industry: International evidence
    Wang, Kun Tracy
    Liu, Simeng
    Wu, Yue
    JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY, 2021, 74
  • [50] Do Audit Efforts Reduce Stock Price Crash Risk? The Role of Corporate Governance
    Lee, Sang Hyuk
    Jung, Nam Chul
    ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2024, 53 (06) : 703 - 731
12345