Managerial Talent, Investment Efficiency and Stock Price Crash Risk
This study has been implemented with the aim of the development of the researches in the scope of the management effects through investigation of the management ability on the investment decisions and the stock price crash risk. In this regard and in order to measure the managers ability and its rel...
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| Format: | Article |
| Language: | fas |
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Allameh Tabataba'i University Press
2016-06-01
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| Series: | مطالعات تجربی حسابداری مالی |
| Subjects: | |
| Online Access: | https://qjma.atu.ac.ir/article_7057_9939fe9d538e340dcf78b5dc6cfdbf59.pdf |
| _version_ | 1797378294326231040 |
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| author | Mehdi Moradzadeh Fard Moradzadeh Fard |
| author_facet | Mehdi Moradzadeh Fard Moradzadeh Fard |
| author_sort | Mehdi Moradzadeh Fard Moradzadeh Fard |
| collection | DOAJ |
| description | This study has been implemented with the aim of the development of the researches in the scope of the management effects through investigation of the management ability on the investment decisions and the stock price crash risk. In this regard and in order to measure the managers ability and its related effects on the investment efficiency (in the form of three models) and also its interaction with the element of the reporting quality on the future stock price crash risk (in the form of two models), the Demorgian et al (2013) model has been used. Hence two different statistical samples from the Tehran stock exchange listed companies and with the implementation of the Systematic removal model have been used. Also in order to examine the hypotheses, estimation methods and the assumption of the model, the Panel analysis has been used. Our findings show that the managerial talent decreases the underinvestment and reinforces the overinvestment and generally increases the deviation of the expected level of investment. In addition, the results of this study on the one hand, show that the managerial talent, meaningfully, decreases the future stock price crash risk and from the other hand it shows that the desirable reporting quality, decreases the future stock price crash risk. But there is no evidence showing the existence of an interactive relationship between capable managers and high reporting quality with future stock price crash risk. |
| first_indexed | 2024-03-08T20:05:46Z |
| format | Article |
| id | doaj.art-11533812cada40c086704f309248e6b0 |
| institution | Directory Open Access Journal |
| issn | 2821-0166 2538-2519 |
| language | fas |
| last_indexed | 2024-03-08T20:05:46Z |
| publishDate | 2016-06-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | مطالعات تجربی حسابداری مالی |
| spelling | doaj.art-11533812cada40c086704f309248e6b02023-12-23T10:36:24ZfasAllameh Tabataba'i University Pressمطالعات تجربی حسابداری مالی2821-01662538-25192016-06-011350336410.22054/qjma.2016.70577057Managerial Talent, Investment Efficiency and Stock Price Crash RiskMehdi Moradzadeh Fard Moradzadeh Fard0دانشیار گروه حسابداری دانشگاه آزاد اسلامی واحد کرجThis study has been implemented with the aim of the development of the researches in the scope of the management effects through investigation of the management ability on the investment decisions and the stock price crash risk. In this regard and in order to measure the managers ability and its related effects on the investment efficiency (in the form of three models) and also its interaction with the element of the reporting quality on the future stock price crash risk (in the form of two models), the Demorgian et al (2013) model has been used. Hence two different statistical samples from the Tehran stock exchange listed companies and with the implementation of the Systematic removal model have been used. Also in order to examine the hypotheses, estimation methods and the assumption of the model, the Panel analysis has been used. Our findings show that the managerial talent decreases the underinvestment and reinforces the overinvestment and generally increases the deviation of the expected level of investment. In addition, the results of this study on the one hand, show that the managerial talent, meaningfully, decreases the future stock price crash risk and from the other hand it shows that the desirable reporting quality, decreases the future stock price crash risk. But there is no evidence showing the existence of an interactive relationship between capable managers and high reporting quality with future stock price crash risk.https://qjma.atu.ac.ir/article_7057_9939fe9d538e340dcf78b5dc6cfdbf59.pdfmanagerial talentinvestment efficiencyfinancial reporting qualitystock price crash risk |
| spellingShingle | Mehdi Moradzadeh Fard Moradzadeh Fard Managerial Talent, Investment Efficiency and Stock Price Crash Risk مطالعات تجربی حسابداری مالی managerial talent investment efficiency financial reporting quality stock price crash risk |
| title | Managerial Talent, Investment Efficiency and
Stock Price Crash Risk |
| title_full | Managerial Talent, Investment Efficiency and
Stock Price Crash Risk |
| title_fullStr | Managerial Talent, Investment Efficiency and
Stock Price Crash Risk |
| title_full_unstemmed | Managerial Talent, Investment Efficiency and
Stock Price Crash Risk |
| title_short | Managerial Talent, Investment Efficiency and
Stock Price Crash Risk |
| title_sort | managerial talent investment efficiency and stock price crash risk |
| topic | managerial talent investment efficiency financial reporting quality stock price crash risk |
| url | https://qjma.atu.ac.ir/article_7057_9939fe9d538e340dcf78b5dc6cfdbf59.pdf |
| work_keys_str_mv | AT mehdimoradzadehfardmoradzadehfard managerialtalentinvestmentefficiencyandstockpricecrashrisk |