Relationship between Real Earning Management, Corporate Governance and Stock Crash Risk (Dynamic Panel Data)

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Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:

The risk of stock price crash is one of the topics of interest in capital market research. Since the main mission of capital market regulators is to protect the rights of investors, it has always been important to consider the factors that affect crash risk. The quality of financial reporting and earnings management patterns are the most important tools available to regulators that can help them manage crash risk aversion, the purpose of this research is to examine the relationship between real profit management, corporate governance and the risk of stock fall in a company listed on the Tehran Stock Exchange. This research is practical in terms of its purpose, and its statistical sample is 113 companies from among the companies admitted to the Tehran Stock Exchange during the years 2016 to 2021. The research method of the present study is descriptive- correlation and the research hypotheses are tested using the generalized least squares method. The results of the research showed that there is a negative and significant relationship between real earnings management and the risk of falling stocks. Also, the results show that there is a negative and significant relationship between corporate governance and the risk of stock fall. Corporate governance moderates the relationship between earnings management and stock downside risk.

Language:
Persian
Published:
Quarterly Journal of Fiscal and Economic Policies, Volume:11 Issue: 43, 2023
Pages:
65 to 97
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