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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