IDEAS home Printed from https://ideas.repec.org/a/mes/emfitr/v59y2023i2p463-478.html
   My bibliography  Save this article

The Impact of Enterprise Annuity on Stock Price Crash Risk

Author

Listed:
  • Huan Dou
  • Jiangrong Hou
  • Xu Chuan Xu
  • Gege Zhu

Abstract

With the aggravation of aging problem, it is practically significant to promote enterprise annuity and explore its economic consequence. Using Chinese A-share listed companies from 2008 to 2017 as sample, we find that enterprise annuity can significantly reduce stock price crash risk. Further analysis indicates that the negative impact is pronounced in the companies with lower managerial ownership, less independent directors, lower management power and better institutional condition. Our conclusions have proved that enterprise annuity can encourage employees to participate in corporate governance actively and thus reduce stock price crash risk.

Suggested Citation

  • Huan Dou & Jiangrong Hou & Xu Chuan Xu & Gege Zhu, 2023. "The Impact of Enterprise Annuity on Stock Price Crash Risk," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(2), pages 463-478, January.
    • Handle: RePEc:mes:emfitr:v:59:y:2023:i:2:p:463-478
    DOI: 10.1080/1540496X.2022.2099267
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1540496X.2022.2099267
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1540496X.2022.2099267?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:emfitr:v:59:y:2023:i:2:p:463-478. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MREE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.