Government debt and stock price crash risk: International Evidence
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 gov...
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| Format: | article |
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2024
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| Online Access: | http://dx.doi.org/10.1016/j.jfs.2024.101245 https://www.sciencedirect.com/science/article/pii/S1572308924000305?v=s5 http://hdl.handle.net/10576/52543 |
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| _version_ | 1857415085053444096 |
|---|---|
| author | Hamdi, Ben-Nasr |
| author2 | Boubaker, Sabri |
| author2_role | author |
| author_facet | Hamdi, Ben-Nasr Boubaker, Sabri |
| author_role | author |
| dc.creator.none.fl_str_mv | Hamdi, Ben-Nasr Boubaker, Sabri |
| dc.date.none.fl_str_mv | 2024-03-03T08:11:55Z 2024-02-16 |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://dx.doi.org/10.1016/j.jfs.2024.101245 Ben-Nasr, H., & Boubaker, S. (2024). Government debt and stock price crash risk: International Evidence. Journal of Financial Stability, 101245. 1572-3089 https://www.sciencedirect.com/science/article/pii/S1572308924000305?v=s5 http://hdl.handle.net/10576/52543 1878-0962 |
| dc.language.none.fl_str_mv | en |
| dc.publisher.none.fl_str_mv | Elsevier |
| dc.rights.none.fl_str_mv | http://creativecommons.org/licenses/by/4.0/ info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | 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 | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | 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. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | qu_37e72c9077449dfe7ce98bd0a1ac55b1 |
| identifier_str_mv | Ben-Nasr, H., & Boubaker, S. (2024). Government debt and stock price crash risk: International Evidence. Journal of Financial Stability, 101245. 1572-3089 1878-0962 |
| language_invalid_str_mv | en |
| network_acronym_str | qu |
| network_name_str | Qatar University repository |
| oai_identifier_str | oai:qspace.qu.edu.qa:10576/52543 |
| publishDate | 2024 |
| publisher.none.fl_str_mv | Elsevier |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| spelling | Government debt and stock price crash risk: International EvidenceHamdi, Ben-NasrBoubaker, Sabrigovernment debtfiscal policy uncertaintybad news hoardingtax avoidancecrash riskWe 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.Elsevier2024-03-03T08:11:55Z2024-02-16Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://dx.doi.org/10.1016/j.jfs.2024.101245Ben-Nasr, H., & Boubaker, S. (2024). Government debt and stock price crash risk: International Evidence. Journal of Financial Stability, 101245.1572-3089https://www.sciencedirect.com/science/article/pii/S1572308924000305?v=s5http://hdl.handle.net/10576/525431878-0962enhttp://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:qspace.qu.edu.qa:10576/525432024-07-23T10:58:37Z |
| spellingShingle | Government debt and stock price crash risk: International Evidence Hamdi, Ben-Nasr 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 | government debt fiscal policy uncertainty bad news hoarding tax avoidance crash risk |
| url | http://dx.doi.org/10.1016/j.jfs.2024.101245 https://www.sciencedirect.com/science/article/pii/S1572308924000305?v=s5 http://hdl.handle.net/10576/52543 |