CEO early-life disaster experience and stock price crash risk

• Published in: Journal of corporate finance (Amsterdam, Netherlands) Vol. 68; p. 101928
• Main Authors: Chen, Yangyang, Fan, Qingliang, Yang, Xin, Zolotoy, Leon
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.06.2021
• Subjects: Bad news hoarding; CEO background characteristics; Disaster experience; Stock price crash risk; G40; G12; G34; Disaster experience; Stock price crash risk; CEO background characteristics; Bad news hoarding

We study the impact of CEO early-life disaster experience on stock price crash risk. Using a longitudinal sample of U.S. firms, we document that firms led by CEOs with early-life disaster experience have higher stock price crash risk. Our findings are consistent with CEOs who experienced early-life...