This paper documents that policy uncertainty reduces future stock price crash risk. Our tests show that this negative … crash risk is unlikely to be driven by potential endogeneity. Additional tests show that this negative association is driven …

investor expectations of future crash risk. Using the steepness of the option implied volatility smirk as a proxy for ex ante … expectation of crash risk, we find that expected crash risk decreases after adoption of XBRL. Moreover, we document that the … XBRL reporting on reducing expected crash risk. Our empirical results are robust to a variety of sensitivity checks …

We examine the economic benefits of paying dividends. We find that dividend payments mitigate stock price crash risk … (overinvestment) is positively associated with stock price crash risk, suggesting that curbing bad news hoarding and curtailing … overinvestment are two channels through which dividends mitigate crash risk. Finally, our main results are robust to a battery of …

potential endogeneity. We further demonstrate two likely channels for the crash risk-reducing effect of technology spillovers … reduce the focal firm's stock price crash risk …

risk. Overconfident managers overestimate the returns to their investment projects and misperceive negative net present … price crash risk than firms with non-overconfident CEOs. The impact of managerial overconfidence on crash risk is more … investors. Finally, it appears that the effect of CEO overconfidence on crash risk is less pronounced for firms with more …

price crash risk in future years. The positive association between goodwill balances and future crash risk is stronger for …

distributions, which we refer to as stock price crash risk. We do so using a comprehensive panel data set of firms with a dual … relation between the wedge and crash risk is less pronounced for firms with more effective external monitoring and for firms … costs, combined with opacity, exacerbate stock price crash risk …

We investigate the impact of customer concentration on stock price crash risk. Customer concentration may represent a … source of significant cash flow and business risk for supplier firms or benefit supplier firms in terms of efficient product … customer concentration is positively associated with stock price crash risk. We find, however, that governmental customer …

We examine the relation between short-sale constraints and stock price crash risk. To establish causality, we take … significant decrease in stock price crash risk. We further investigate the possible underlying mechanisms through which short …-sale constraints affect stock price crash risk. We provide evidence suggesting that lifting of short-sale constraints reduces crash …

We examine the relation between creditor rights and stock price crash risk by exploiting the staggered enactment of … find robust evidence that stock price crash risk subsides following the adoption of the laws. The evidence suggests that …