Supervisory capability of supervisor board, incentives to supervisor board, and stock price crash risk. (English) Zbl 1503.91115
Summary: We analyzed the impact of the supervisory capability of the supervisory board and the incentive to the supervisory board on stock price crash risk. We found that the exercise quality of the members of the supervisory board will affect stock price crash risk. The improvement of their education degree can inhibit the risk of the stock price crash, and there is a negative correlation between the average age of the members and stock price crash risk. In terms of supervision incentives, the higher the shareholding ratio of the supervisory board and the higher the proportion of unpaid supervisors, the lower the stock price crash risk.
MSC:
| 91G15 | Financial markets |
Keywords:
incentives to supervisory board; intermediary effect; stock price crash risk; supervisory capability of supervisor boardReferences:
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