Qian, Yuting; Qin, Bo; Tan, Weiqiang; Troy Yao, Daifei - In: Journal of accounting and public policy 51 (2025), pp. 1-10
This study examines the relationship between outside directors’ equity-based compensation (DEC) and stock price crash risk using a sample of U.S. firms from 2008 to 2021. We find that DEC is associated with lower crash risk, primarily through its role in reducing over-investment, financial...
