CEO DUALITY AND STOCK PRICE CRASH RISK: EVIDENCE FROM CHINA
CEO duality motivates executives to boost financial performance and withhold unfavourable news, which increases future stock price crashes. Using China's listed firms from 2004 to 2014 as the sample, we present evidence CEO duality exerts positive effects on stock price crash risk. Moreover, th...
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Published in | Transformations in Business & Economics Vol. 16; no. 2B; p. 728 |
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Main Authors | , , , |
Format | Journal Article |
Language | English |
Published |
Kaunas
Vilnius University, Kaunas Faculty of Humanities
01.01.2017
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Subjects | |
Online Access | Get full text |
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Summary: | CEO duality motivates executives to boost financial performance and withhold unfavourable news, which increases future stock price crashes. Using China's listed firms from 2004 to 2014 as the sample, we present evidence CEO duality exerts positive effects on stock price crash risk. Moreover, the positive effect of CEO duality on crash risk is strengthened when the firms have relatively higher R&D expenditure, lower market competition, and lower analyst coverage. [web URL: http://www.transformations.knf.vu.lt/41b/article/ceod] |
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ISSN: | 1648-4460 2538-872X |