Controlling shareholders' stock pledges and stock price crash risks

被引：0
|
作者：
Ren, Haibo [1 ]
Xu, Yueping [2 ]
Wu, Jiangning [3 ]
机构：
[1] Henan Inst Sci & Technol, Sch Humanity & Law, Xinxiang 453003, Peoples R China
[2] Shanghai Univ Int Business & Econ, Sch Law, Shanghai 201620, Peoples R China
[3] Emilio Aguinaldo Coll, Manila 1007, Philippines
来源：
FINANCE RESEARCH LETTERS | 2024年 / 68卷
关键词：
Controlling shareholders' stock pledges; Stock price crash risk; Regulatory environment;
D O I：
10.1016/j.frl.2024.105956
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study explores the influence of controlling shareholders' stock pledges on the risk of stock price crashes. The findings reveal that controlling shareholders' stock pledges have a positive correlation with the risk of stock price crashes. Specifically, corporations with controlling shareholders who have pledged their stocks are exposed to a higher risk of stock price crashes. However, a strong regulatory environment can mitigate the effect of controlling shareholders' stock pledges on the risk of stock price crashes.
引用
收藏
页数：9
相关论文
共 50 条
  • [1] Large controlling shareholders and stock price synchronicity
    Boubaker, Sabri
    Mansali, Hatem
    Rjiba, Hatem
    [J]. JOURNAL OF BANKING & FINANCE, 2014, 40 : 80 - 96
  • [2] Controlling shareholders' stock pledges and strategic change: the moderating effects of corporate governance
    Zhong, Xi
    Wan, He
    Peng, Qiuping
    [J]. BALTIC JOURNAL OF MANAGEMENT, 2021, 16 (04) : 582 - 601
  • [3] Multiple large shareholders, blockholder trading and stock price crash risk
    Ji, Jiao
    Sun, Hanwen
    Xu, Haofeng
    [J]. EUROPEAN FINANCIAL MANAGEMENT, 2024, 30 (03) : 1344 - 1384
  • [4] Controlling shareholder equity pledges, executive incentives and stock price volatility
    Xi, Yuqin
    Zhang, Kaige
    Hu, Jinyue
    Jin, Chenxi
    Jin, Yonghong
    Yang, Xiaoguang
    [J]. Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice, 2024, 44 (03): : 813 - 835
  • [5] Do controlling shareholders' equity pledges exacerbate the stock price crash risk? -A study based on margin trading and securities lending transactions in China's securities market
    Wang, Liang
    Cao, Ziqiu
    Cao, Wenyan
    [J]. HELIYON, 2024, 10 (18)
  • [6] Stock pledges by controlling shareholders and the disclosure of critical audit matters: evidence from China
    Feng, Xiaoqing
    Wen, Wen
    Ke, Yun
    He, Ying
    [J]. ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS, 2023, 30 (03) : 726 - 744
  • [7] Stock Liquidity and Stock Price Crash Risk
    Chang, Xin
    Chen, Yangyang
    Zolotoy, Leon
    [J]. JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 2017, 52 (04) : 1605 - 1637
  • [8] Stock Repurchase and Stock Price Crash Risk
    Jia, Haibo
    Zhu, Ying
    Chen, Xiaodan
    [J]. FINANCE RESEARCH LETTERS, 2024, 60
  • [9] Minority shareholders? activism and stock price crash risk: Evidence from China
    Wang, Qiong
    Qiu, Muqing
    [J]. INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2023, 87
  • [10] Monitoring or tunneling? Information interaction among large shareholders and the crash risk of the stock price
    Li, Jie
    Wang, Lidan
    Zhou, Zhong-Qiang
    Zhang, Yongjie
    [J]. PACIFIC-BASIN FINANCE JOURNAL, 2021, 65
12345