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.
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页数：9
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