In recent years, Fund staff has prepared cross-country analyses of macroeconomic vulnerabilities in low-income countries, focusing on the risk of sharp declines in economic growth and of debt distress. We discuss routes to broadening this focus by adding several macroeconomic and macrofinancial...

This study examines the relation between asset-backed securitizations and future stock price crash risk in nonfinancial firms. We argue that the off-balance sheet treatment of securitizations facilitates managers’ bad news hiding, leading to higher crash risk. Using a large sample of U.S....

This paper finds statistically significant evidence that adopting Director Nomination Eligibility Criteria (DNEC) mitigates stock price crash risk. We hand-collect DNEC information from thousands of Chinese corporate charters and measure its impact on stock price crash risk over time....

This study shows that less readable 10-K reports are associated with higher stock price crash risk. The results are consistent with the argument that managers can successfully hide adverse information by writing complex financial reports, which leads to stock price crashes when the hidden bad...

This paper finds statistically significant evidence that adopting Director Nomination Eligibility Criteria (DNEC) mitigates stock price crash risk. We hand-collect whether a firm adopts DNEC or not from thousands of Chinese corporate charters and measure its impact on stock price crash risk over...

Most WAEMU countries are likely to see economic growth deteriorate over the next two years as a result of the global economic crisis, and some WAEMU countries will be more severely affected by the crisis than others. This could have a detrimental effect on efforts to reduce poverty....