lower during recession because regulators and investors focus more on downside risk and require conservative reporting by …

We examine the association between carbon risk and future stock price crash risk and the moderating role of climate … change disclosures in this association using a sample of firms across the world. We find that carbon risk is positively … associated with future stock price crash risk, and firm-level climate-change disclosures attenuate the positive effect of carbon …

-year ahead stock price crash risk. The evidence is consistent with the view that short sellers are able to detect bad news … hoarding by managers. Additional findings show that the positive relation between short interest and future crash risk is more … salient for firms with weak governance mechanisms, excessive risk-taking behavior, and high information asymmetry between …

This paper examines the effect of trade secrets protection on stock price crash risk. Using an experimental setting … stock price crash risk. The results are robust to controlling for other trade secrets laws and the choice of crash risk … analysis of economic mechanisms reveals that increased crash risk for firms under the UTSA could be primarily associated with …

This study shows that less readable 10-K reports are associated with higher stock price crash risk. The results are … that the effect of financial reporting complexity on crash risk is more pronounced for firms with persistent negative … litigation risk. Finally, accrual manipulation appears to be positively related to crash risk, even since the Sarbanes-Oxley Act …

We investigate whether non-GAAP earnings disclosures increase stock price crash risk. Consistent with the notion that … increases crash risk. We also find that managers use income-increasing non-GAAP reporting as a substitute for withholding bad …

stock price crash risk. This is consistent with managers disclosing rather than hoarding bad news in order to deter entry … threats from potential rivals on stock price crash risk is more salient for firms with severe agency problems measured by … external market forces, corporate risk-taking and information asymmetry. Overall, our evidence indicates that competitive …

curtailing stock price crash risk. Supporting this prediction, we find a negative relation between the equity incentive … heterogeneity of the executive team and stock price crash risk. Our strong, robust evidence implies that this equity incentive …, we show that the impact of equity incentive heterogeneity on crash risk is stronger for firms experiencing severe agency …

-year ahead stock price crash risk. The evidence is consistent with the view that short sellers are able to ferret out bad news … hoarding by managers. Additional findings show that the positive relation between short interest and future crash risk is more … salient for firms with weak governance mechanisms, excessive risk-taking behavior, and high information asymmetry between …