Financial reporting opacity and expected crash risk: Evidence from implied volatility smirks

Financial reporting opacity and expected crash risk: Evidence from implied volatility smirks

The recent financial crisis has stimulated a renewed interest in understanding the determinants of stock price crash risk (i.e., left tail risk). Recent research shows that opaque financial reports enable managers to hide and accumulate bad news for extended periods. When the accumulated bad news re...

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Bibliographic Details
Main Authors: KIM, Jeong-Bon, ZHANG, Liandong
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
Subjects:
Financial Reporting Opacity
Expected Crash Risk
Implied Volatility Smirk
Internal Control Weakness
Restatements
Accounting
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/soa_research/1702
https://ink.library.smu.edu.sg/context/soa_research/article/2729/viewcontent/FinancialReportingOpacity_2013_pp.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soa_research/1702
https://ink.library.smu.edu.sg/context/soa_research/article/2729/viewcontent/FinancialReportingOpacity_2013_pp.pdf

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