Investigating the Factors Affecting the Negative skewness of stock returns in Tehran Stock Exchange
Author(s):
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
The aim of this study investigating the factors affecting the negative skewness of stock returns in Tehran Stock Exchange. For this purpose, the financial statements of 119 firms were collected during the period 2011-2017. Multivariate regression with panel data was used to test the hypotheses. The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk. The aim of this study investigating the factors affecting the negative skewness of stock returns in Tehran Stock Exchange. For this purpose, the financial statements of 119 firms were collected during the period 2011-2017. Multivariate regression with panel data was used to test the hypotheses. The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk. The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk.
Keywords:
Language:
English
Published:
International Journal of Finance and Managerial Accounting, Volume:5 Issue: 19, Autumn 2020
Pages:
135 to 142
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