Government debt and stock price crash risk: International Evidence
<p>We 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...
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| مؤلفون آخرون: | |
| منشور في: |
2024
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| _version_ | 1864513554015584256 |
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| author | Hamdi Ben-Nasr (18186820) |
| author2 | Sabri Boubaker (15523046) |
| author2_role | author |
| author_facet | Hamdi Ben-Nasr (18186820) Sabri Boubaker (15523046) |
| author_role | author |
| dc.creator.none.fl_str_mv | Hamdi Ben-Nasr (18186820) Sabri Boubaker (15523046) |
| dc.date.none.fl_str_mv | 2024-06-01T00:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1016/j.jfs.2024.101245 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Government_debt_and_stock_price_crash_risk_International_Evidence/25441720 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Government debt Fiscal policy uncertainty Bad news hoarding Tax avoidance Crash risk |
| dc.title.none.fl_str_mv | Government debt and stock price crash risk: International Evidence |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p>We 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.</p><h2>Other Information</h2> <p> Published in: Journal of Financial Stability<br> License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1016/j.jfs.2024.101245" target="_blank">https://dx.doi.org/10.1016/j.jfs.2024.101245</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_46398fad25ed6670cd66cb9956cfed68 |
| identifier_str_mv | 10.1016/j.jfs.2024.101245 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/25441720 |
| publishDate | 2024 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Government debt and stock price crash risk: International EvidenceHamdi Ben-Nasr (18186820)Sabri Boubaker (15523046)Commerce, management, tourism and servicesBanking, finance and investmentEconomicsApplied economicsGovernment debtFiscal policy uncertaintyBad news hoardingTax avoidanceCrash risk<p>We 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.</p><h2>Other Information</h2> <p> Published in: Journal of Financial Stability<br> License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1016/j.jfs.2024.101245" target="_blank">https://dx.doi.org/10.1016/j.jfs.2024.101245</a></p>2024-06-01T00:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1016/j.jfs.2024.101245https://figshare.com/articles/journal_contribution/Government_debt_and_stock_price_crash_risk_International_Evidence/25441720CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/254417202024-06-01T00:00:00Z |
| spellingShingle | Government debt and stock price crash risk: International Evidence Hamdi Ben-Nasr (18186820) Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Government debt Fiscal policy uncertainty Bad news hoarding Tax avoidance Crash risk |
| status_str | publishedVersion |
| title | Government debt and stock price crash risk: International Evidence |
| title_full | Government debt and stock price crash risk: International Evidence |
| title_fullStr | Government debt and stock price crash risk: International Evidence |
| title_full_unstemmed | Government debt and stock price crash risk: International Evidence |
| title_short | Government debt and stock price crash risk: International Evidence |
| title_sort | Government debt and stock price crash risk: International Evidence |
| topic | Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Government debt Fiscal policy uncertainty Bad news hoarding Tax avoidance Crash risk |