Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5089296 | Journal of Banking & Finance | 2013 | 17 Pages |
Abstract
⺠We test two views of institutional investors-monitoring vs. short-termism. ⺠Institutional investor stability is negatively associated with future crash risk. ⺠The finding is consistent with the monitoring theory of institutional investors. ⺠Legal types of institutional investors affect future crash risk.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jeffrey L. Callen, Xiaohua Fang,