Stock Liquidity and Stock Price Crash Risk

By Xin Chang, Yangyang Chen, Leon Zolotoy. Journal of Financial and Quantitative Analysis, 2016

358 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/2478f01d6e912d6c188febeec4e9f8f43d35ed12

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Mostafa Monzur Hasan
2. Ahsan Habib
3. Guangda Ouyang
4. Fenghua Wen
5. Longhao Xu
6. Gang Kou
7. Haiyan Jiang

In Finance

1. Mostafa Monzur Hasan
2. Guangda Ouyang
3. Ahsan Habib
4. Fenghua Wen
5. Longhao Xu
6. Gang Kou
7. Haiyan Jiang

Citations in the corpus

• Retail investor attention and stock price crash risk: Evidence from China (2019, background): “062) and significant at the 1% level, which is in line with Chang et al. (2017). This follows that firms with higher crash”
• Readability of 10‐K Reports and Stock Price Crash Risk (2019, neutral): “We particularly consider accounting conservatism (Kim and Zhang 2016), corporate tax avoidance (Kim et al. 2011a), stock liquidity (Chang et al. 2017), CEO overconfidence (Kim et al. 2016b), and accounting comparability (Kim et al. 2016a).”
• Stock price crash risk: review of the empirical literature (2018, positive): “While Chang et al. (2016) show empirically that the effect of stock liquidity on future crash risk is more pronounced for firms with a high proportion of transient institutional ownership, the extent to which stock liquidity affects crash risk directly and indirectly (through the transient investor…”