Stock Price Crash Risk on International Stock Markets - Earnings Management

This study examines the relationship between opacity in financial reporting and the distribution of stock returns. The performance of stocks in the Swiss stock market is analyzed in a sample period from 1985 till 2010 with regard to the level of firms' opaqueness in financial statements. Using earnings management as a measure for opacity, it is shown that opacity is associated with stock price crash risk. Opaque firms are more susceptible to stock price crashes, but not more prone to explore positive jump events than firms with high transparency in financial reporting.

About the author

Born 1986 in Zurich Switzerland, Bachelor of Arts HSG and prospective Master of Arts in Accounting and Finance HSG.

Product details

• Authors: Dominick Gian Franzi
• Publisher: AV Akademikerverlag
• Languages: English
• Product format: Paperback / Softback
• Released: 01.01.2014
• EAN: 9783639627923
• ISBN: 978-3-639-62792-3
• No. of pages: 60
• Subject: Guides > Law, job, finance > Money, bank, stock market