AGENCY THEORY & STOCK PRICE CRASH RISK: EVIDENCE FROM TEHRAN STOCK EXCHANGE

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

HEIDARI MAHDI; GHADERI BAHMAN; ABDI SOHRAB

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: JOURNAL OF SECURITIES EXCHANGE Year:2017 | Volume:10 | Issue:37 Page(s): 151-177

Download Full-Text

Persian Verion

View:

2,013

Download:

Cites:

Information Journal Paper

Title

AGENCY THEORY & STOCK PRICE CRASH RISK: EVIDENCE FROM TEHRAN STOCK EXCHANGE

Author(s)

HEIDARI MAHDI | GHADERI BAHMAN | ABDI SOHRAB | Issue Writer Certificate

Keywords

AGENCY THEORYQ2

STRUCTURAL EQUATION MODELING.Q1

AGENCY COSTSQ2

STOCK PRICE CRASH RISKQ1

Abstract

Using STRUCTURAL EQUATION MODELING.approach, this research aims to explore the effect of AGENCY COSTS on STOCK PRICE CRASH RISK. For this purpose, 110 publicly listed firms from Tehran Stock Exchange for the period 2002 to 2014 are selected as final data set. As an independent variable, the observable variables such as firm size, leverage ratio, profitability ratio, Tobin's q, assets utilization ratio and free cash flow ratio are used to proxy the agency cost. In addition, stock crash risk based Hutton et al. (2009) and Kim et al. (2011, 2014) models are used as depend variable and disclosure quality, CFO opacity and earnings opacity are entered to the model as control variables. The results showed that AGENCY COSTS have a negative and meaningful effect on first index of STOCK PRICE CRASH RISK but there is no significant relationship between AGENCY COSTS and other indices of STOCK PRICE CRASH RISK. Also, the results show That disclosure quality has a negative and meaningful effect on STOCK PRICE CRASH RISK but CFO opacity and earnings opacity have not significant effect on STOCK PRICE CRASH RISK.

Cites

No record.

References

No record.

Cite

APA: Copy

HEIDARI, MAHDI, GHADERI, BAHMAN, & ABDI, SOHRAB. (2017). AGENCY THEORY & STOCK PRICE CRASH RISK: EVIDENCE FROM TEHRAN STOCK EXCHANGE. JOURNAL OF SECURITIES EXCHANGE, 10(37 ), 151-177. SID. https://sid.ir/paper/187712/en

Vancouver: Copy

HEIDARI MAHDI, GHADERI BAHMAN, ABDI SOHRAB. AGENCY THEORY & STOCK PRICE CRASH RISK: EVIDENCE FROM TEHRAN STOCK EXCHANGE. JOURNAL OF SECURITIES EXCHANGE[Internet]. 2017;10(37 ):151-177. Available from: https://sid.ir/paper/187712/en

IEEE: Copy

MAHDI HEIDARI, BAHMAN GHADERI, and SOHRAB ABDI, “AGENCY THEORY & STOCK PRICE CRASH RISK: EVIDENCE FROM TEHRAN STOCK EXCHANGE,” JOURNAL OF SECURITIES EXCHANGE, vol. 10, no. 37 , pp. 151–177, 2017, [Online]. Available: https://sid.ir/paper/187712/en

Related Journal Papers