The DOI matches its Crossref record; 69 of the 69 references it cites were found in a registry or an index.
Accounting Conservatism and Stock Price Crash Risk: Firm‐level Evidence
Abstract
Using a large sample of U.S. firms during 1964–2007, we find that conditional conservatism is associated with a lower likelihood of a firm's future stock price crashes. This finding holds for multiple measures of conditional conservatism and crash risk and is robust to controlling for other known determinants of crash risk and firm‐fixed effects. Moreover, we find that the relation between conservatism and crash risk is more pronounced for firms with higher information asymmetry. Overall, our results are consistent with the notion that conditional conservatism limits managers’ incentive and ability to overstate performance and hide bad news from investors, which, in turn, reduces stock price crash risk.
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Cites
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Cox, D. R. (1992) · Springer Series in Statistics · doi:10.1007/978-1-4612-4380-9_37 · Cited by 26,297
On Persistence in Mutual Fund Performance
Carhart, M. M. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03808.x · Cited by 17,283
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
Petersen, M. A. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn053 · Cited by 10,746
The economic implications of corporate financial reporting
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2005.01.002 · Cited by 6,316
The Variation of Certain Speculative Prices
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The variation of certain speculative prices
Mandelbrot, B. B. (1997) · Fractals and Scaling in Finance · doi:10.1007/978-1-4757-2763-0_14 · Cited by 4,468
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Cited by
Readability of 10‐K Reports and Stock Price Crash Risk
Kim, C. (., Wang, K., & Zhang, L. (2019) · Contemporary Accounting Research · doi:10.1111/1911-3846.12452 · Cited by 425
Self-citationDoes media coverage deter firms from withholding bad news? Evidence from stock price crash risk
An, Z., Chen, C., Naiker, V., & Wang, J. (2020) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2020.101664 · Cited by 285
Internet searching and stock price crash risk: Evidence from a quasi-natural experiment
Xu, Y., Xuan, Y., & Zheng, G. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.03.003 · Cited by 269
Powerful CEOs and stock price crash risk
Al Mamun, M., Balachandran, B., & Duong, H. N. (2020) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2020.101582 · Cited by 257
Hedging, Hedge Accounting, and Stock Price Crash Risk: Evidence from China
Jiang, J., Lu, X., Xiao, J., & Ye, R. (2025) · The International Journal of Accounting · doi:10.1142/s1094406025430012 · Cited by 6
Metadata
- Authors
- Kim, J., & Zhang, L.
- Venue
- Contemporary Accounting Research
- Publisher
- Wiley
- Published
- 2015-01-12
- Volume
- 33
- Issue
- 1
- Pages
- 412-441
- ISSN
- 0823-9150 (ISSN-L)
- 1911-3846
- OpenAlex
- W3124142968
- Cited by
- 1,039
- References
- 69
- FWCI
- 153.78
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
