Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/271254 
Year of Publication: 
2021
Series/Report no.: 
QMS Research Paper No. 2021/09
Publisher: 
Queen's University Belfast, Queen's Management School, Belfast
Abstract: 
This study examines whether marriage, as a social construct and cultural norm, can affect firm-level stock price crash risk. We find that firms managed by married CEOs are associated with lower future stock price crash risk, after controlling for a set of firm characteristics and CEO traits. We document that CEO marriage reduces crash risk by curbing bad news hoarding and formation activities. Moreover, the attenuating impact of CEO marriage on crash risk is more pronounced among firms with weaker corporate governance and those run by less prominent, higher-delta, and lower paid CEOs.
Subjects: 
Marriage
CEO
crash risk
bad news hoarding
corporate governance
compensation
JEL: 
G12
G30
M52
M12
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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