Stock price crash risk and unexpected earnings thresholds
Abstract
Purpose The purpose of this paper is to examine stock price crash risk (SPCR) as a function of meeting or missing three earnings thresholds – reporting a profit (earnings level), reporting an earnings increase (earnings change) and meeting analysts’ forecasts (earnings expectation). Design/methodology/approach The authors rely upon the research design of Herrmann et al. (2011) to identify the incremental impact of the earnings level and earnings...
Paper Details
Title
Stock price crash risk and unexpected earnings thresholds
Published Date
Jul 30, 2018
Journal
Volume
44
Issue
8
Pages
1012 - 1030
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Notes
History