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AuthorHamdi, Ben-Nasr
AuthorBoubaker, Sabri
Available date2024-03-03T08:11:55Z
Publication Date2024-02-16
Publication NameJournal of Financial Stability
Identifierhttp://dx.doi.org/10.1016/j.jfs.2024.101245
CitationBen-Nasr, H., & Boubaker, S. (2024). Government debt and stock price crash risk: International Evidence. Journal of Financial Stability, 101245.
ISSN1572-3089
URIhttps://www.sciencedirect.com/science/article/pii/S1572308924000305?v=s5
URIhttp://hdl.handle.net/10576/52543
AbstractWe add to the literature on the economic outcomes of government debt and argue that government debt increases crash risk via two channels: (i) hoarding bad news and (ii) tax avoidance. Based on a large international sample, our results indicate that stock crash risk is positively associated with government debt. Our conclusions are robust when we treat endogeneity issues, and our tests confirm the validity of bad news hoarding and tax avoidance as channels through which government debt influences stock price crash risk.
Languageen
PublisherElsevier
Subjectgovernment debt
fiscal policy uncertainty
bad news hoarding
tax avoidance
crash risk
TitleGovernment debt and stock price crash risk: International Evidence
TypeArticle
Open Access user License http://creativecommons.org/licenses/by/4.0/
ESSN1878-0962
dc.accessType Full Text


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