Financial regulation and financial market stability: Evidence from stock price crash risk

Mengru Li and Yongjian Huang

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This study finds that New Asset Management Regulations (NAMR) can reduce stock price crash risk, with financial stability enhancement. Furthermore, increased main business performance and accounting conservatism could be the channels through which stock price crash risk is reduced. And this effect is stronger in firms with higher managerial myopia and less analyst coverage.

Keywords: NAMR; Stock price crash risk; Financial market stability; Main business performance; Accounting conservatism (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s154461232401225x

DOI: 10.1016/j.frl.2024.106196

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