发表刊物：

Emerging Markets Review

关键字：

Company visits Crash risk Information acquisition Bad news hoarding

摘要：

Using a sample of Chinese listed firms, we observe that firms more visited by analysts or institutional investors exhibit lower future stock price crash risk. This effect is more pronounced for firms facing more incentives for or fewer constraints on hiding bad news. Greater mitigation of crash risk occurs if more firm-specific information is discovered during such visits and if visits are conducted by analysts instead of institutional investors. The impact of company visits is observed mostly in the first half of the subsequent year. These findings suggest that company visits mitigate crash risk by discovering and disseminating firm-specific information.

第一作者：

Yang Jun

通讯作者：

Xiang Cheng

合写作者：

Lu Jing,Xiang Cheng*

论文类型：

期刊论文

学科门类：

经济学

一级学科：

应用经济学

文献类型：

J

卷号：

44

页面范围：

1-17

是否译文：

否

发表时间：

2020-07-31

收录刊物：

SSCI