Air quality and stock price crash risk: From the perspective of audit quality
Author
Abstract
Suggested Citation
DOI: 10.1016/j.frl.2025.106773
Download full text from publisher
As the access to this document is restricted, you may want to
for a different version of it.References listed on IDEAS
- Hanna, Rema & Oliva, Paulina, 2015.
"The effect of pollution on labor supply: Evidence from a natural experiment in Mexico City,"
Journal of Public Economics, Elsevier, vol. 122(C), pages 68-79.
- Rema Hanna & Paulina Oliva, 2011. "The Effect of Pollution on Labor Supply: Evidence from a Natural Experiment in Mexico City," CID Working Papers 225, Center for International Development at Harvard University.
- Rema Hanna & Paulina Oliva, 2011. "The Effect of Pollution on Labor Supply: Evidence from a Natural Experiment in Mexico City," NBER Working Papers 17302, National Bureau of Economic Research, Inc.
- Ge Gao & Xiuting Li & Xiaoting Liu & Jichang Dong, 2021. "Does Air Pollution Impact Fiscal Sustainability? Evidence from Chinese Cities," Energies, MDPI, vol. 14(21), pages 1-16, November.
- Jin, Li & Myers, Stewart C., 2006. "R2 around the world: New theory and new tests," Journal of Financial Economics, Elsevier, vol. 79(2), pages 257-292, February.
- Malcolm Baker & Jeffrey Wurgler, 2006.
"Investor Sentiment and the Cross‐Section of Stock Returns,"
Journal of Finance, American Finance Association, vol. 61(4), pages 1645-1680, August.
- Malcolm Baker & Jeffrey Wurgler, 2004. "Investor Sentiment and the Cross-Section of Stock Returns," NBER Working Papers 10449, National Bureau of Economic Research, Inc.
- Etzioni, Amitai, 1988. "Normative-affective factors: Toward a new decision-making model," Journal of Economic Psychology, Elsevier, vol. 9(2), pages 125-150, June.
- Xu, Nianhang & Li, Xiaorong & Yuan, Qingbo & Chan, Kam C., 2014. "Excess perks and stock price crash risk: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 419-434.
- Bekaert, Geert & Wu, Guojun, 2000.
"Asymmetric Volatility and Risk in Equity Markets,"
The Review of Financial Studies, Society for Financial Studies, vol. 13(1), pages 1-42.
- Geert Bekaert & Guojun Wu, 1997. "Asymmetric Volatility and Risk in Equity Markets," NBER Working Papers 6022, National Bureau of Economic Research, Inc.
- Dong, Rui & Fisman, Raymond & Wang, Yongxiang & Xu, Nianhang, 2021.
"Air pollution, affect, and forecasting bias: Evidence from Chinese financial analysts,"
Journal of Financial Economics, Elsevier, vol. 139(3), pages 971-984.
- Rui Dong & Raymond Fisman & Yongxiang Wang & Nianhang Xu, 2019. "Air Pollution, Affect, and Forecasting Bias: Evidence from Chinese Financial Analysts," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-345, Boston University - Department of Economics.
- Wilbur Chen & Suraj Srinivasan, 2024. "Going digital: implications for firm value and performance," Review of Accounting Studies, Springer, vol. 29(2), pages 1619-1665, June.
- Kim, Jeong-Bon & Li, Yinghua & Zhang, Liandong, 2011. "Corporate tax avoidance and stock price crash risk: Firm-level analysis," Journal of Financial Economics, Elsevier, vol. 100(3), pages 639-662, June.
- Hutton, Amy P. & Marcus, Alan J. & Tehranian, Hassan, 2009. "Opaque financial reports, R2, and crash risk," Journal of Financial Economics, Elsevier, vol. 94(1), pages 67-86, October.
- Xu, Nianhang & Jiang, Xuanyu & Chan, Kam C. & Yi, Zhihong, 2013. "Analyst coverage, optimism, and stock price crash risk: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 25(C), pages 217-239.
- Wu, Keping & Fu, Yumei & Kong, Dongmin, 2022. "Does the digital transformation of enterprises affect stock price crash risk?," Finance Research Letters, Elsevier, vol. 48(C).
- Maximilian Klöckner & Christoph G. Schmidt & Stephan M. Wagner, 2022. "When Blockchain Creates Shareholder Value: Empirical Evidence from International Firm Announcements," Production and Operations Management, Production and Operations Management Society, vol. 31(1), pages 46-64, January.
- David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
- Shuhong Wang & Xiaojing Yi & Malin Song, 2023. "The interrelationship of air quality, investor sentiment, and stock market liquidity: a review of China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(10), pages 10955-10973, October.
- Sophie A Shive & Margaret M Forster & Jose Scheinkman, 2020. "Corporate Governance and Pollution Externalities of Public and Private Firms," The Review of Financial Studies, Society for Financial Studies, vol. 33(3), pages 1296-1330.
- Callen, Jeffrey L. & Fang, Xiaohua, 2013. "Institutional investor stability and crash risk: Monitoring versus short-termism?," Journal of Banking & Finance, Elsevier, vol. 37(8), pages 3047-3063.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Cheng, Feiyang & Wang, Chunfeng & Chiao, Chaoshin & Yao, Shouyu & Fang, Zhenming, 2021. "Retail attention, retail trades, and stock price crash risk," Emerging Markets Review, Elsevier, vol. 49(C).
- Fu, Junhui & Wu, Xiang & Liu, Yufang & Chen, Rongda, 2021. "Firm-specific investor sentiment and stock price crash risk," Finance Research Letters, Elsevier, vol. 38(C).
- Meng, Yongqiang & Shen, Dehua & Xiong, Xiong, 2023. "When stock price crash risk meets fundamentals," Research in International Business and Finance, Elsevier, vol. 65(C).
- Jebran, Khalil & Chen, Shihua & Ye, Yan & Wang, Chengqi, 2019. "Confucianism and stock price crash risk: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
- Wen, Fenghua & Xu, Longhao & Ouyang, Guangda & Kou, Gang, 2019. "Retail investor attention and stock price crash risk: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 65(C).
- Yan Zhang & Yuheng Liang, 2023. "Collusion or monitoring? Connected institutional investors and stock price crash risk in China," Systems Research and Behavioral Science, Wiley Blackwell, vol. 40(6), pages 901-923, November.
- Habib, Ahsan & Hasan, Mostafa Monzur, 2017. "Business strategy, overvalued equities, and stock price crash risk," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 389-405.
- Cao, Chunfang & Xia, Changyuan & Chan, Kam C., 2016. "Social trust and stock price crash risk: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 46(C), pages 148-165.
- Ju, Chunhua & Fang, Xusheng & Shen, Zhonghua, 2025. "ESG rating divergence and stock price crash risk," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
- Cui, Xin & Sun, Mengyue & Sensoy, Ahmet & Wang, Panpan & Wang, Yaqi, 2022. "Top executives’ great famine experience and stock price crash risk," Research in International Business and Finance, Elsevier, vol. 59(C).
- Li, Xiaorong & Wang, Steven Shuye & Wang, Xue, 2017. "Trust and stock price crash risk: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 76(C), pages 74-91.
- Zhang, Ziqi & Su, Zhi & Wang, Ke & Zhang, Yongji, 2022. "Corporate environmental information disclosure and stock price crash risk: Evidence from Chinese listed heavily polluting companies," Energy Economics, Elsevier, vol. 112(C).
- Richardson, Grant & Obaydin, Ivan & Liu, Chelsea, 2022. "The effect of accounting fraud on future stock price crash risk," Economic Modelling, Elsevier, vol. 117(C).
- Yuan, Mengyi & Zhang, Lin & Lian, Yonghui, 2022. "Economic policy uncertainty and stock price crash risk of commercial banks: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 587-605.
- Zhuo, Qianru & Lin, Yuanfeng & Qiu, Yajie & Shen, Zhe & Wang, Zhiqiang, 2024. "Employment protection and stock price crash risk: Evidence from China’s introduction of the labor contract law," Research in International Business and Finance, Elsevier, vol. 71(C).
- Min Zhang & Lu Xie & Haoran Xu, 2016. "Corporate Philanthropy and Stock Price Crash Risk: Evidence from China," Journal of Business Ethics, Springer, vol. 139(3), pages 595-617, December.
- Xu, Lin & Rao, Yulei & Cheng, Yingmei & Wang, Jianxin, 2020. "Internal coalition and stock price crash risk," Journal of Corporate Finance, Elsevier, vol. 64(C).
- Wang, Xiaoxiao & Liu, Haiming, 2022. "The impact of rollover restriction on stock price crash risk," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
- Li, Yi & Wang, Pengfei & Zhang, Wei, 2023. "Does online interaction between firms and investors reduce stock price crash risk?," The British Accounting Review, Elsevier, vol. 55(4).
- Lu, Jing & Qiu, Yuhang, 2023. "Does non-punitive regulation diminish stock price crash risk?," Journal of Banking & Finance, Elsevier, vol. 148(C).
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612325000388. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.