| Residential College | false |
| Status | 已發表Published |
| Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets | |
Lin,Yu En1; Jiang,Xiao Tong2; Yu,Bo3 ; Lam,Keith S.K.4
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| 2023-06-29 | |
| Source Publication | International Review of Financial Analysis
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| ABS Journal Level | 3 |
| ISSN | 1057-5219 |
| Volume | 89Pages:102774 |
| Abstract | This study, employing US listed firms with compensation peer disclosures, investigates the impact of compensation and industry peer stock price crash risks on firms' own investments. We document three new evidences in the examination. First, we find that firms' own investments are positively affected by compensation peer crash risks but not industry peers. Second, we show that firms' own investments are explained by compensation peer crash risks only. Third, we demonstrate that the compensation peer crash risks and firms' own investments relation is positively moderated by corporate governance. Besides, additional analysis suggests that peers' incentive effect is a possible explanation to the positive compensation peer crash risks and firms' own investments relation. |
| Keyword | Compensation Peers Firms' Own Investments Industry Peers Peer Crash Risks Peers' Incentive Effect |
| DOI | 10.1016/j.irfa.2023.102774 |
| URL | View the original |
| Indexed By | SSCI |
| Language | 英語English |
| WOS Research Area | Business & Economics |
| WOS Subject | Business, Finance |
| WOS ID | WOS:001043351300001 |
| Publisher | ELSEVIER SCIENCE INC, STE 800, 230 PARK AVE, NEW YORK, NY 10169 |
| Scopus ID | 2-s2.0-85165032318 |
| Fulltext Access | |
| Citation statistics | |
| Document Type | Journal article |
| Collection | Faculty of Business Administration DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS |
| Corresponding Author | Yu,Bo |
| Affiliation | 1.Center for Quantitative Economics,Jilin University,Changchun,Jilin,130015,China 2.School of Business,Renmin University of China,Beijing,100872,China 3.Faculty of Finance,City University of Macau,Macau SAR,999078,China 4.Faculty of Business Administration,University of Macau,Macau SAR,999078,China |
| Corresponding Author Affilication | University of Macau |
| Recommended Citation GB/T 7714 | Lin,Yu En,Jiang,Xiao Tong,Yu,Bo,et al. Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets[J]. International Review of Financial Analysis, 2023, 89, 102774. |
| APA | Lin,Yu En., Jiang,Xiao Tong., Yu,Bo., & Lam,Keith S.K. (2023). Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets. International Review of Financial Analysis, 89, 102774. |
| MLA | Lin,Yu En,et al."Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets".International Review of Financial Analysis 89(2023):102774. |
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