Abstract
This paper investigates the impact of oil price uncertainty on stock price crash risk in China. The empirical results based on a sample from 2000 to 2019 show that oil price uncertainty positively affects stock price crash risk. In particular, oil price uncertainty has a greater effect on stock price crash risk for the non-state-owned enterprises, although its positive impact is significant both for the state-owned and non-state-owned enterprises. Further analysis finds that the positive impact of oil price uncertainty on stock price crash risk can be suppressed by corporate risk-taking and becomes weaker in a highly competitive market. Our study supports that oil price uncertainty is also an important factor contributing to stock price crash risk and provides more micro-level evidence for the research on the oil-stock relation.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
