Title of article
Investigating the Factors Affecting the Negative skewness of stock returns in Tehran Stock Exchange
Author/Authors
Eslamdoost, Mahnaz Department of Accounting - Central Tehran Branch - Islamic Azad University , Ranjbar Navi, Rostam Department of Accounting - South Tehran Branch - Islamic Azad University , Chenari, Hassan Department of Accounting - South Tehran Branch - Islamic Azad University
Pages
8
From page
135
To page
142
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
Conservatism , Debt Maturity , Financial Constraint , Stock Liquidity
Journal title
International Journal of Finance and Managerial Accounting
Serial Year
2020
Record number
2551052
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