高管流动性能否降低股价崩盘风险?来自中国的证据

IF 1.5 4区社会学 Q2 SOCIAL SCIENCES, INTERDISCIPLINARY

Economic and Political Studies-EPS Pub Date : 2022-03-04 DOI:10.1080/20954816.2022.2042789

Jing Zhang, Shuang Yue, Shuang Zi

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引用次数: 1

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Can executive mobility reduce the stock price crash risk? Evidence from China

Abstract The 21st century has witnessed increasing fluctuations in both the real economy and financial markets around the world. How to maintain the stability of the capital market has attracted more serious attention. This paper examines the impact of executive mobility on the stock price crash risk at the company level. Based on the data of A-share listed companies during 2010–2019, our empirical results show that executive mobility can effectively reduce the stock price crash risk. Furthermore, our research confirms that employee salaries play an intermediary role in the impact of executive mobility on the stock price crash risk. This paper has important implications for companies in emerging markets to optimise the structure of their executive teams.

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来源期刊

Economic and Political Studies-EPS SOCIAL SCIENCES, INTERDISCIPLINARY-

CiteScore

5.60

自引率

4.20%

发文量