ling, xiaoting; Shan, Yuan George; Wu, Wuqing; Zhang, Lu - 2022
This study is motivated by the research gap concerning cash dividend payouts in China. To fill this gap, we explore the … impact of overpaid dividends on future stock price crash risk. We use a dataset of 2,662 firms with 15,416 firm …-year observations of China’s A-share listed firms for the period 2009–2018. The baseline empirical result indicates that overpaid …