Group-affiliated analysts and future stock price crash risk: Evidence from Korea
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Park, S.Y. | - |
dc.contributor.author | Song, Y. | - |
dc.date.available | 2020-04-24T04:20:27Z | - |
dc.date.issued | 2019 | - |
dc.identifier.issn | 1096-3685 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/39083 | - |
dc.description.abstract | Based on the governance role of analysts and bad news hoarding theory of stock crash risk, this study examines the effect of group-affiliated analyst following on subsequent stock price crash risk using non-financial firms listed in the Korea Stock Exchange market, by focusing governance role of analysts as one of the main cause of the crash risk. In particular, we explore if subsequent stock price crash risk is affected when analysts are hired by a securities firm within a business group (chaebol) and the earnings forecast is for an affiliate of that business group. It is meaningful to investigate determinants of the crash risk which has significant influence on going concern and sustainable growth of the firm, specifically in emerging countries such as Korea. The regression results show that group-affiliated analysts help a firm lower its stock price crash risk by utilizing their sufficient source of internal information to effectively monitor managers and discourage them from hiding bad news. © 2019, Allied Business Academies. | - |
dc.format.extent | 1 | - |
dc.language | 영어 | - |
dc.language.iso | ENG | - |
dc.publisher | Allied Business Academies | - |
dc.title | Group-affiliated analysts and future stock price crash risk: Evidence from Korea | - |
dc.type | Article | - |
dc.identifier.bibliographicCitation | Academy of Accounting and Financial Studies Journal, v.23, no.4, pp 20 - 20 | - |
dc.description.isOpenAccess | N | - |
dc.identifier.scopusid | 2-s2.0-85074375584 | - |
dc.citation.endPage | 20 | - |
dc.citation.number | 4 | - |
dc.citation.startPage | 20 | - |
dc.citation.title | Academy of Accounting and Financial Studies Journal | - |
dc.citation.volume | 23 | - |
dc.type.docType | Article | - |
dc.publisher.location | 미국 | - |
dc.subject.keywordAuthor | Analyst following | - |
dc.subject.keywordAuthor | Group-affiliated analysts | - |
dc.subject.keywordAuthor | Large business group | - |
dc.subject.keywordAuthor | Stock price crash risk | - |
dc.description.journalRegisteredClass | scopus | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
84, Heukseok-ro, Dongjak-gu, Seoul, Republic of Korea (06974)02-820-6194
COPYRIGHT 2019 Chung-Ang University All Rights Reserved.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.