The impact of financial technology advancement on stock crash risk: An Analysis of the mediating effect of information transparency

Qifeng Zou and Yanliang Zhang

Finance Research Letters, 2025, vol. 71, issue C

Abstract: This paper meticulously examines the influence of financial technology (fintech) development on stock price crash risk. Utilizing a fixed-effects model, the analysis focuses on a comprehensive sample of China's A-share listed companies spanning the years 2012 to 2020. The findings reveal a significant insight: within China's capital markets, enhancements in regional fintech development act as a potent deterrent against the peril of corporate share price collapses. Notably, fintech exerts its influence on mitigating stock price crash risk by enhancing the degree of corporate information transparency.

Keywords: Financial technology; Information transparency; Stock price crash risk (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324014776

DOI: 10.1016/j.frl.2024.106448

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