Political connections and stock price crash risk: Empirical evidence from the fall of Suharto

doi:10.3390/ijfs7030049

科研成果详情

题名	Political connections and stock price crash risk: Empirical evidence from the fall of Suharto
作者	Harymawan，Iman 1; Lam，Brian 2; Nasih，Mohammad 1; Rumayya，Rumayya 3
发表日期	2019
发表期刊	International Journal of Financial Studies
卷号	7 期号:3
摘要	This study examines the relationship between firm-level political connections and stock price crash risk in Indonesia. It employs the difference-in-difference design to deal with the self-selection bias issue regarding the choice of the firms to become a politically connected firm. We use the sudden resignation of the former President of Indonesia, Suharto, to show that politically connected firms are associated with lower stock price crash risk and that the risk for these politically connected firms increased after Suharto resigned. Furthermore, we found evidence that these negative associations are more pronounced in firms with more complex firm structures.
关键词	Complex firm structure Politically connected firms Stock price crash risk
DOI	10.3390/ijfs7030049
URL	查看来源
语种	英语English
Scopus入藏号	2-s2.0-85073338353
引用统计	被引频次：7[WOS] [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	https://repository.uic.edu.cn/handle/39GCC9TT/6262
专题	北师香港浸会大学
通讯作者	Harymawan，Iman
作者单位	1.Department of Accountancy,Universitas Airlangga,Surabaya,60286,Indonesia 2.Division of Business and Management,BNU-HKBU United International College,Zhuhai,519087,China 3.Department of Economics,Universitas Airlangga,Surabaya,60286,Indonesia
推荐引用方式 GB/T 7714	Harymawan，Iman,Lam，Brian,Nasih，Mohammadet al. Political connections and stock price crash risk: Empirical evidence from the fall of Suharto[J]. International Journal of Financial Studies, 2019, 7(3).
APA	Harymawan，Iman, Lam，Brian, Nasih，Mohammad, & Rumayya，Rumayya. (2019). Political connections and stock price crash risk: Empirical evidence from the fall of Suharto. International Journal of Financial Studies, 7(3).
MLA	Harymawan，Iman,et al."Political connections and stock price crash risk: Empirical evidence from the fall of Suharto". International Journal of Financial Studies 7.3(2019).