Credit default risk, internal control and stock returns

Ting Tian

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

Abstract: This paper selects the data of China's A-share listed companies from 2012 to 2022 as a research sample to explore the relationship between the credit default risk of listed companies and stock return. It is found that the credit default risk of listed companies hurts stock return; enterprises with high quality of internal control motivate enterprises to carry out effective risk management and reduce the impact of credit default risk on enterprise operation compared with state-owned enterprises, the negative effect of credit risk on stock return is more significant in non-state-owned enterprises.

Keywords: Credit default risk; Internal control; Stock return (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:pb:s1544612324007979

DOI: 10.1016/j.frl.2024.105767

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