Social trust and stock price crash risk: Evidence from China

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• 作者：Chunfang Cao^a ; ^{ccf@swufe.edu.cn} ; Changyuan Xia^b ; ^{xia_cy@2014.swufe.edu.cn} ; Kam C. Chan^c ; ^{johnny.chan@wku.edu}
• 关键词：G00
• 刊名：International Review of Economics & Finance
• 出版年：2016
• 出版时间：November 2016
• 年：2016
• 卷：46
• 期：Complete
• 页码：148-165
• 全文大小：400 K
• 卷排序：46

文摘

We study the relation between social trust and stock price crash risk. Social trust and stock price crash risk are negatively correlated. Our findings are robust. Social trust and other formal institutional monitoring are partial substitutes. Social trust, as a socioeconomic factor, relates to crash risk.