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AuthorRamzi, Benkraiem
AuthorBen-Nasr, Hamdi
AuthorNechi, Salem
AuthorRjiba, Hatem
Available date2023-07-26T11:04:59Z
Publication Date2023-02-10
Publication NameFinance Research Letters
Identifierhttp://dx.doi.org/10.1016/j.frl.2023.103688
CitationBenkraiem, R., Ben-Nasr, H., Nechi, S., & Rjiba, H. (2023). Stock price crash risk and leverage dynamics: Evidence from the GCC countries. Finance Research Letters, 54, 103688.
ISSN1544-6123
URIhttps://www.sciencedirect.com/science/article/pii/S1544612323000624
URIhttp://hdl.handle.net/10576/46354
AbstractThis paper examines the impact of stock price crash risk on capital structure dynamics using a sample of firms located in the GCC region. The results show that a higher exposure to stock price crash risk is associated with a lower speed of leverage adjustments toward target. We also find that this relation is more pronounced for over-levered firms compared to their under-levered peers. Our results withstand several sensitivity tests including, using alternative proxies for main dependent and independent variables, and ruling out endogeneity concerns, among other.
Languageen
PublisherElsevier
SubjectStock price crash risk
Information asymmetry
Speed of leverage adjustment
TitleStock price crash risk and leverage dynamics: Evidence from the GCC countries
TypeArticle
Volume Number54
ESSN1544-6131
dc.accessType Full Text


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