| アイテムタイプ |
紀要論文 / Departmental Bulletin Paper(1) |
| 公開日 |
2024-04-04 |
| タイトル |
|
|
タイトル |
Institutional Investors and Stock Price Crash Risk |
|
言語 |
en |
| 言語 |
|
|
言語 |
eng |
| キーワード |
|
|
言語 |
en |
|
主題Scheme |
Other |
|
主題 |
External Corporate Governance |
| キーワード |
|
|
言語 |
en |
|
主題Scheme |
Other |
|
主題 |
Stock Price Crash Risk |
| キーワード |
|
|
言語 |
en |
|
主題Scheme |
Other |
|
主題 |
Institutional Investors |
| 資源タイプ |
|
|
資源タイプ識別子 |
http://purl.org/coar/resource_type/c_6501 |
|
資源タイプ |
departmental bulletin paper |
| 著者 |
He, Yunfan
Li, Zheng
Xie, Yingxuan
Xu, Yang
Zhang, Wan
|
| 抄録 |
|
|
内容記述タイプ |
Abstract |
|
内容記述 |
This study conducted a profound analysis of the impact of external corporate governance, focusing on the characteristics of institutional investors, on stock price crash risk. A total of 21,642 annual sample observations from the listed companies in China’s Ashare market from 2004 to 2021 were selected as the research data. The results showed that the increase in shareholding ratio of institutional investors among the shareholders of listed companies significantly increased the risk of a stock price crash. Moreover, a higher stability among institutional investors correlated with a higher inclination among companies to conceal negative news, thus increasing the risk of a stock price crash. However, herd behavior among institutional investors did not impose a significant impact on the stock price crash risk among the overall samples. In listed companies with qualified foreign institutional investors holding shares, institutional investors increased the risk of stock price collapse and exacerbated the crash risk of stock prices. The results challenge the role of institutional investors as “supervisors” and provide new evidence for research on the influence of institutional investors in the capital market. |
|
言語 |
en |
| 書誌情報 |
ja : 経営と経済
en : Journal of Business and Economics
巻 103,
号 4,
p. 21-72,
発行日 2024-03-25
|
| ISSN |
|
|
収録物識別子タイプ |
ISSN |
|
収録物識別子 |
02869101 |
| 書誌レコードID |
|
|
収録物識別子タイプ |
NCID |
|
収録物識別子 |
AN00069150 |
| 著者版フラグ |
|
|
出版タイプ |
VoR |
|
出版タイプResource |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| 出版者 |
|
|
出版者 |
長崎大学経済学会 |
|
言語 |
ja |
| 出版社別言語 |
|
|
言語 |
en |
|
値 |
Economics Society of Nagasaki University |
| sortkey |
|
|
値 |
2 |
| 引用 |
|
|
内容記述タイプ |
Other |
|
内容記述 |
経営と経済, 103(4), pp.21-72; 2024 |
|
言語 |
ja |
Keizai103_4_21.pdf (308 KB)
