Ownership Structure and Stock Price Crash Risk: Evidence from China
Keywords:
Business, Economics, Finance, Stock PriceAbstract
This paper examines how corporate ownership concentration affects stock price crash risk in Chinese listed firms. Results show that ownership concentration is negatively associated with firm-specific crash risk and this negative relation is robust against difference-in-difference test. Further evidence demonstrates that the negative relation between ownership concentration and stock price crash risk is more pronounced in privately held firms than in state-owned firms.
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Published
2017-07-01
How to Cite
Gao, W., Li, Q., & Drougas, A. (2017). Ownership Structure and Stock Price Crash Risk: Evidence from China. Journal of Applied Business and Economics, 19(4). Retrieved from https://mail.articlegateway.com/index.php/JABE/article/view/715
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