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• W4384339009 startingPage "3636" @default.
• W4384339009 abstract "As a top honor for the overall civilization of cities in mainland China, the National Civilized City (NCC) award reflects good city reputation of the award-winners. This study investigates whether and how NCC awards affect stock price crash risk. Using a staggered difference-in-differences model, we find that the NCC award significantly reduces local firms’ future crash risk. This effect is more pronounced among firms with a better corporate reputation, inferior internal governance, and weaker external monitoring. Mechanism tests show that the NCC award reduces crash risk by mitigating management opportunism and alleviating information opacity." @default.
• W4384339009 created "2023-07-15" @default.
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• W4384339009 date "2023-07-14" @default.
• W4384339009 modified "2023-09-25" @default.
• W4384339009 title "City Reputation and Stock Price Crash Risk: Evidence from China’s National Civilized City Award" @default.
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• W4384339009 doi "https://doi.org/10.1080/1540496x.2023.2228460" @default.
• W4384339009 hasPublicationYear "2023" @default.
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