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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Bibliographic Details
Published inTransformations in Business & Economics Vol. 16; no. 2B; p. 728
Main Authors Chen, Xiding, Ye, Zhiqiang, Zhou, Zhibo, Zhang, Fangfang
Format Journal Article
LanguageEnglish
Published Kaunas Vilnius University, Kaunas Faculty of Humanities 01.01.2017
Subjects
Chief executive officers
Financial performance
News
R&D
Research & development
Risk assessment
Stock prices
Stocks
Studies
China
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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]
ISSN:1648-4460
2538-872X