文献类型：期刊文献

英文题名：CEO DUALITY AND STOCK PRICE CRASH RISK: EVIDENCE FROM CHINA

作者：Chen, Xiding[1];Ye, Zhiqiang[2];Zhou, Zhibo[3];Zhang, Fangfang[4]

机构：[1]Wenzhou Business Coll, Dept Finance, Wenzhou 325035, Peoples R China;[2]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[3]Southwest Univ, Coll Econ & Management, Chongqing 400715, Peoples R China;[4]Wenzhou Business Coll, Dept Accounting, Wenzhou 325035, Peoples R China

年份：2017

卷号：16

期号：2B

起止页码：728

外文期刊名：TRANSFORMATIONS IN BUSINESS & ECONOMICS

收录：;WOS:【SSCI(收录号:WOS:000422892100010)】；

语种：英文

外文关键词：CEO duality; crash risk; information asymmetry; Agency theory; China

摘要：CEO duality motivates executives to boost financial performance and withhold unfavourable news, which increases future stock price crashes. Using China's listed firms from 2004 to 2014 as the sample, we present evidence CEO duality exerts positive effects on stock price crash risk. Moreover, the positive effect of CEO duality on crash risk is strengthened when the firms have relatively higher R&D expenditure, lower market competition, and lower analyst coverage.