Show simple item record

AuthorBen-Nasr, Hamdi
AuthorBouslimi, Lobna
AuthorZhong, Rui
Available date2020-08-18T08:34:43Z
Publication Date2019
Publication NameInternational Review of Finance
ResourceScopus
ISSN1369412X
URIhttp://dx.doi.org/10.1111/irfi.12265
URIhttp://hdl.handle.net/10576/15619
AbstractUsing a large sample of US firms, we document a significantly negative relation between the number of patents (citations) and stock price crash risk. Our findings are consistent with the arguments that patented innovation activities send a high-quality signal and reduces proprietary information costs, which lowers information asymmetry and enhance disclosure. Further, we find that such impact of patented innovation on stock price crash risk is more pronounced in firms with weak corporate governance and high information opacity. Our findings provide new evidence on the real effects of patented innovation on crash risk in equity market. - 2019 International Review of Finance Ltd. 2019
Languageen
PublisherWiley-Blackwell
SubjectVoluntary Disclosure
Management Earnings Forecasts
International Financial Reporting Standards
TitleDo Patented Innovations Reduce Stock Price Crash Risk?
TypeArticle
dc.accessType Abstract Only


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record