The Impact of Debt Maturity on Stock Price Crash Risk with an Emphasis on Information Asymmetry
Short-term debt subjects managers to frequent monitoring, thus effectively reducing managerial discretion and enhancing information disclosure. Since lenders are more sensitive to decreases than increases in firm stock price, they have strong incentives to scrutinize borrowers and gather information...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
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University of Isfahan
2018-09-01
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| Series: | Journal of Asset Management and Financing |
| Subjects: | |
| Online Access: | https://amf.ui.ac.ir/article_21211_cf0dbfff84cfa6197ec33b59b62b9543.pdf |