This paper investigates the impact on the risk of a crash in the stock price (SPCR) of a hometown connection between a firm's chief executive officer (CEO) and suppliers. Using manually collected data on CEOs' hometown connections among Chinese A-share companies (A-shares, or RMB common shares,...

Existing studies usually investigate the effects of Trump’s trade war on U.S. financial markets by the event-study method. We take an alternative approach by integrating trade war-related news into one single "trade war shock" based on a structural vector autoregression model identified via...

This study examines how institutional investor investment horizons impact stock price crash risk for China's A-share firms from 2007 to 2019. Long-term investments by institutions significantly mitigate risk by curbing managerial myopia, enhancing transparency, and improving accountability, thus...