Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/69129
Title: Analyst following and stock price crash risk
Authors: Dong, Yue
Keywords: DRNTU::Business::Finance
Issue Date: 2016
Source: Dong, Y. (2016). Analyst following and stock price crash risk. Doctoral thesis, Nanyang Technological University, Singapore
Abstract: Using a sample of 31,261 firm-year observations of US-listed firms over 1995 – 2011, this paper investigates the relation between analyst following and contemporaneous stock price crash risks. I find that analyst coverage is positively associated with firm-specific stock price crash risk. I also show that the positive association between analyst following and stock price crash risk is more pronounced for firms with greater business risks and firms with overconfident CEOs. Overall, these findings indicate that managers are incentivized to smooth out bad news disclosure and analysts’ monitoring prevents them from doing so.
URI: http://hdl.handle.net/10356/69129
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Theses

Files in This Item:
File Description SizeFormat 
Analyst Following and Stock Price Crash Risk_DONGYUE_20161109.pdf
  Restricted Access
540.86 kBAdobe PDFView/Open

Page view(s) 10

291
Updated on Nov 25, 2020

Download(s) 10

24
Updated on Nov 25, 2020

Google ScholarTM

Check

Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.