1. Ktisis Cyprus University of Technology
  2. Cyprus University of Technology (Research Output)
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Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/10546
DC FieldValueLanguage
dc.contributor.authorAndreou, Panayiotis-
dc.contributor.authorLouca, Christodoulos-
dc.contributor.authorPetrou, Andreas-
dc.date.accessioned2017-11-21T10:51:49Z-
dc.date.available2017-11-21T10:51:49Z-
dc.date.issued2017-05-01-
dc.identifier.citationReview of Finance, 2017, vol. 21, no. 3, pp. 1287-1325en_US
dc.identifier.issn1573692X-
dc.identifier.urihttps://hdl.handle.net/20.500.14279/10546-
dc.description.abstractWe show that firms with younger CEOs are more likely to experience stock price crashes, including crashes caused by revelation of negative news in the form of breaks in strings of consecutive earnings increases. Such strings are accompanied by large increases in CEO compensation that do not dissipate with crashes. These findings suggest that CEOs have financial incentives to hoard bad news earlier in their career, which increases future crashes. This negative impact of CEO age effect is strongest in the presence of managerial discretion. Overall, the findings highlight the importance of CEO age for firm policies and outcomes.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.relation.ispartofReview of Financeen_US
dc.rights© The Authors . Published by Oxford University Press on behalf of the European Finance Association. All rights reserveden_US
dc.subjectCEO ageen_US
dc.subjectCrash risken_US
dc.subjectHoarding of bad newsen_US
dc.subjectAgency theoryen_US
dc.subjectManagerial discretionen_US
dc.titleCEO age and stock price crash risken_US
dc.typeArticleen_US
dc.collaborationCyprus University of Technologyen_US
dc.collaborationDurham Universityen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsOpen Accessen_US
dc.countryCyprusen_US
dc.countryUnited Kingdomen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
dc.identifier.doi10.1093/rof/rfw056en_US
dc.relation.issue3en_US
dc.relation.volume21en_US
cut.common.academicyear2016-2017en_US
dc.identifier.spage1287en_US
dc.identifier.epage1325en_US
item.fulltextWith Fulltext-
item.cerifentitytypePublications-
item.grantfulltextopen-
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.openairetypearticle-
item.languageiso639-1en-
crisitem.journal.journalissn1573-692X-
crisitem.journal.publisherOxford University Press-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.deptDepartment of Management, Entrepreneurship and Digital Business-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.orcid0000-0001-5742-0311-
crisitem.author.orcid0000-0003-3436-3734-
crisitem.author.orcid0000-0002-2877-4038-
crisitem.author.parentorgFaculty of Management and Economics-
crisitem.author.parentorgFaculty of Management and Economics-
crisitem.author.parentorgFaculty of Tourism Management, Hospitality and Entrepreneurship-
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