Internal control risk disclosure, media coverage and stock price crash risk: Evidence from China

IF 4.1 3区管理学 Q2 BUSINESS

International Journal of Accounting Information Systems Pub Date : 2024-09-23 DOI:10.1016/j.accinf.2024.100710

Jiajun Zhu , Xuetong Hu , Jing Gao , Hongping Tan

引用次数: 0

Abstract

This study delves into the COSO framework to explore the impact of risk disclosure of internal control and media coverage on stock price crash risk. Our findings reveal that effective risk disclosure of internal control plays a crucial role in reducing a company’s stock price crash risk. Additionally, positive and negative media coverage exhibit contrasting effects on crash risk. Notably, the efficacy of internal risk governance significantly shapes the “Double-edged Sword” effect of media monitoring and ultimately influences stock prices. Finally, we uncover the mechanisms through which risk disclosure mitigates stock price crash risk. In summary, our research offers novel insights and practical recommendations for enhancing corporate governance practices.

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内部控制风险披露、媒体报道与股价暴跌风险：来自中国的证据

本研究深入研究了 COSO 框架，探讨了内部控制风险披露和媒体报道对股价暴跌风险的影响。我们的研究结果表明，有效的内部控制风险披露对降低公司股价暴跌风险起着至关重要的作用。此外，正面和负面的媒体报道对股价暴跌风险的影响也截然不同。值得注意的是，内部风险治理的有效性极大地影响了媒体监督的 "双刃剑 "效应，并最终影响股价。最后，我们揭示了风险披露减轻股价暴跌风险的机制。总之，我们的研究为加强公司治理实践提供了新颖的见解和实用的建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Accounting Information Systems Multiple-

CiteScore

9.00

自引率

6.50%

发文量

期刊介绍： The International Journal of Accounting Information Systems will publish thoughtful, well developed articles that examine the rapidly evolving relationship between accounting and information technology. Articles may range from empirical to analytical, from practice-based to the development of new techniques, but must be related to problems facing the integration of accounting and information technology. The journal will address (but will not limit itself to) the following specific issues: control and auditability of information systems; management of information technology; artificial intelligence research in accounting; development issues in accounting and information systems; human factors issues related to information technology; development of theories related to information technology; methodological issues in information technology research; information systems validation; human–computer interaction research in accounting information systems. The journal welcomes and encourages articles from both practitioners and academicians.