Abstract
This paper explores whether or not a Chinese firm's ownership structure, audit quality, and board structure are associated with its future stock price crash risk. We find that stronger ownership structure and higher audit quality are associated with lower stock price crash risk, and the association is stronger since the IFRS and split-share reforms than before them. The results are consistent across two different measures of crash risk, as well as robust to endogeneity tests. We also find that board structure is not significantly associated with stock price crash risk.
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.
