Audit committee personnel training and stock price crash risk

Eun Hye Jo and Lee, Jung Wha (Jenny)

Finance Research Letters, 2024, vol. 67, issue PA

Abstract: This study examines whether audit committee personnel training decreases future stock price crash risk. Using a hand-collected Korean sample comprising 2,378 firm-year observations from 2018 to 2022, we find that audit committee personnel training reduces future stock price crash risk by lowering real earnings management and curbing overinvestment. Additionally, our findings are more pronounced for firms with high information reporting opacity, high information asymmetry, audit committee chairs with accounting and financial expertise, and firms audited by high-quality auditors. The findings shed light on the value of training to audit committee personnel.

Keywords: Audit committee; Human capital; Audit committee training; Stock price crash risk (search for similar items in EconPapers)
JEL-codes: G34 M41 M53 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008286

DOI: 10.1016/j.frl.2024.105798

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