政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/135092

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題名:	Local Institutional Environment and Stock Price Crash Risk: Evidence from China
作者:	羅光達;徐愛恩 LO, KUANG-TA TANG, XIAOJIAN TSUI, STEPHANIE
貢獻者:	財政系;會計系
關鍵詞:	Local institutional environment;stock price crash risk;state-owned enterprises;privately owned enterprises
日期:	2020-11
上傳時間:	2021-05-24 15:25:18 (UTC+8)
摘要:	Based on province-level data on China’s local institutional environment from 2008 to 2014, we explore the relationship between the local institutional environment and stock price crash risk. We find that a stronger local institutional environment curbs stock price crash risk. Furthermore, we explore the relationship between local institutional environment and stock price crash risk for state-owned versus privately owned enterprises. We find that a stronger local institutional environment is more likely to curb stock price crash risk in state-owned enterprises than in privately owned enterprises. Our results are robust to additional tests. These findings suggest that it is necessary to accelerate the progress of local marketization in China to ensure the development of the stock market and a strong economy.
關聯:	The Singapore Economic Review
資料類型:	article
DOI 連結:	https://doi.org/10.1142/S0217590821400014
DOI:	10.1142/S0217590821400014
顯示於類別:	[財政學系] 期刊論文 [會計學系] 期刊論文

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