Institutional Investor Stability and Crash Risk: Monitoring versus Short-Termism?

By Jeffrey L. Callen, Xiaohua Fang. 2013

633 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8802b72749958ba750c69ec8b514027a2a6a7f54

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Citations in the corpus

Accruals and price crashes (2016, background): “I also find IVOLt to be uncorrelated with CRASHt+1, which is consistent with the finding by Callen and Fang (2013) but differs from the positive”
Trust and stock price crash risk: evidence from China (2017, methodology): “Following Chen et al. (2001), Hutton et al. (2009) and Kim et al. 2011a, b, 2016 ), we measure stock price crash risk using two proxes: the negative coefficient of skewness of firm-specific weekly reurns ( NCSKEW ) and the crash likelihood measure of the Down-top Volatility ( DUVOL ) of firm-specifi”
The impact of top executive gender on asset prices: Evidence from stock price crash risk (2019, positive): “(2009) and Callen and Fang (2015), and control for LitigationriskT , which indicates industries with a high litigation risk.”
CEO Overconfidence and Stock Price Crash Risk (2016, methodology): “We use both the firm–year measure of Callen et al. (2010) and Basu’s (1997) firm-specific coefficient to measure conservatism.”
Financial Statement Comparability and Expected Crash Risk (2016, positive): “Callen and Fang (2013) suggest that monitoring by institutional investors can reduce a firm's crash risk. Yu (2008) finds that firms with high analyst coverage engage less in opportunistic earnings management.”
CEO age and stock price crash risk (2017, background): “The literature generally ascribes stock price crashes to the failure of corporate governance control systems to alleviate agency problems (Andreou et al., 2016; Callen and Fang, 2013; Hutton et al., 2009; Kim et al., 2011a; Kim and Zhang, 2016).”
Retail investor attention and stock price crash risk: Evidence from China (2019, background): “Following Callen and Fang (2013), Xu et al. (2014), and Chang et al. (2017), we exclude (1) firms with fewer than 30 weeks of stock return data in a fiscal year, (2) financial services”
Short interest and stock price crash risk (2015, methodology): “Finally, based on Callen and Fang (2013b), we control for the number of religious adherents to the total population in the state (RELT) where the firm’s headquarter is located as a measure of religious social norms.”
Crash Risk and the Auditor-Client Relationship (2017, methodology): “(2011a) and Callen and Fang (2013) suggest that firms with weaker monitoring mechanisms are prone to conceal bad news, and suffer crash risk.”
Independent Director Reputation Incentives and Stock Price Informativeness (2017, neutral): “(2011); Callen and Fang (2013).”