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Stock Price Crash Risk on International Stock Markets: Earnings Management Dominick Gian Franzi
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Stock Price Crash Risk on International Stock Markets: Earnings Management
Dominick Gian Franzi
This study examines the relationship between opacity in financial reporting and the distribution of stock returns. The performance of stocks in the Swiss stock market is analyzed in a sample period from 1985 till 2010 with regard to the level of firms' opaqueness in financial statements. Using earnings management as a measure for opacity, it is shown that opacity is associated with stock price crash risk. Opaque firms are more susceptible to stock price crashes, but not more prone to explore positive jump events than firms with high transparency in financial reporting.
| Media | Books Paperback Book (Book with soft cover and glued back) |
| Released | March 28, 2014 |
| ISBN13 | 9783639627923 |
| Publishers | AV Akademikerverlag |
| Pages | 60 |
| Dimensions | 150 × 4 × 226 mm · 107 g |
| Language | German |