{"id":"https://openalex.org/W3195974673","doi":"https://doi.org/10.1108/raf-05-2020-0111","title":"Managerial ability and stock price crash risk \u2013 the role of managerial overconfidence","display_name":"Managerial ability and stock price crash risk \u2013 the role of managerial overconfidence","publication_year":2021,"publication_date":"2021-08-21","ids":{"openalex":"https://openalex.org/W3195974673","doi":"https://doi.org/10.1108/raf-05-2020-0111","mag":"3195974673"},"language":"en","primary_location":{"id":"doi:10.1108/raf-05-2020-0111","doi":"https://doi.org/10.1108/raf-05-2020-0111","is_oa":false,"landing_page_url":"https://doi.org/10.1108/raf-05-2020-0111","pdf_url":null,"source":{"id":"https://openalex.org/S95074589","display_name":"Review of Accounting and Finance","issn_l":"1475-7702","issn":["1475-7702","1758-7700"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Accounting and Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5100383753","display_name":"Jiaxin Liu","orcid":"https://orcid.org/0000-0001-5035-5959","observed_orcids":["https://orcid.org/0000-0001-5035-5959"]},"institutions":[{"id":"https://openalex.org/I83909951","display_name":"Morgan State University","ror":"https://ror.org/017d8gk22","country_code":"US","type":"education","lineage":["https://openalex.org/I83909951"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jiaxin Liu","raw_affiliation_strings":["Department of Accounting and Finance, Earl. G. Graves School of Business and Management, Morgan State University, Baltimore, Maryland, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting and Finance, Earl. G. Graves School of Business and Management, Morgan State University, Baltimore, Maryland, USA","institution_ids":["https://openalex.org/I83909951"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5020695481","display_name":"Dongliang Lei","orcid":"https://orcid.org/0000-0002-8752-1217","observed_orcids":["https://orcid.org/0000-0002-8752-1217"]},"institutions":[{"id":"https://openalex.org/I127328727","display_name":"William Paterson University","ror":"https://ror.org/00k3ayt93","country_code":"US","type":"education","lineage":["https://openalex.org/I127328727"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Dongliang Lei","raw_affiliation_strings":["Department of Accounting and Law, Christos M Cotsakos College of Business, William Paterson University of New Jersey, Wayne, New Jersey, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting and Law, Christos M Cotsakos College of Business, William Paterson University of New Jersey, Wayne, New Jersey, USA","institution_ids":["https://openalex.org/I127328727"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":6.7162,"has_fulltext":false,"cited_by_count":25,"citation_normalized_percentile":{"value":0.96516693,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"20","issue":"2","first_page":"167","last_page":"193"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9384999871253967,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9384999871253967,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.040699999779462814,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.004999999888241291,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/managerial-skills","display_name":"management skills","score":0.8159999847412109},{"id":"https://openalex.org/keywords/managerial-overconfidence","display_name":"managerial overconfidence","score":0.9340000152587891},{"id":"https://openalex.org/keywords/stock-price-crash-risk","display_name":"stock price crash risk","score":0.9940000176429749},{"id":"https://openalex.org/keywords/bad-news-hoarding","display_name":"bad news hoarding","score":0.9490000009536743},{"id":"https://openalex.org/keywords/management-earnings-forecasts","display_name":"management earnings forecasts","score":0.8640000224113464},{"id":"https://openalex.org/keywords/earnings-management","display_name":"earnings management","score":0.9819999933242798},{"id":"https://openalex.org/keywords/overinvestment","display_name":"overinvestment","score":0.8759999871253967},{"id":"https://openalex.org/keywords/internal-control-material-weaknesses","display_name":"internal control material weaknesses","score":0.6859999895095825},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.9909999966621399},{"id":"https://openalex.org/keywords/executive-selection","display_name":"executive selection","score":0.6480000019073486},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.8989999890327454}],"concepts":[{"id":"https://openalex.org/C51110983","wikidata":"https://www.wikidata.org/wiki/Q16503490","display_name":"Overconfidence effect","level":2,"score":0.9674930572509766},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5171091556549072},{"id":"https://openalex.org/C2781426361","wikidata":"https://www.wikidata.org/wiki/Q5326940","display_name":"Earnings","level":2,"score":0.49813342094421387},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4375864565372467},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.43641728162765503},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.41818541288375854},{"id":"https://openalex.org/C2781092381","wikidata":"https://www.wikidata.org/wiki/Q5874546","display_name":"Hoarding (animal behavior)","level":3,"score":0.41759732365608215},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3441329896450043},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.25762462615966797},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.11354219913482666},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C165287380","wikidata":"https://www.wikidata.org/wiki/Q2916569","display_name":"Foraging","level":2,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/raf-05-2020-0111","doi":"https://doi.org/10.1108/raf-05-2020-0111","is_oa":false,"landing_page_url":"https://doi.org/10.1108/raf-05-2020-0111","pdf_url":null,"source":{"id":"https://openalex.org/S95074589","display_name":"Review of Accounting and Finance","issn_l":"1475-7702","issn":["1475-7702","1758-7700"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Accounting and Finance","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":48,"referenced_works":["https://openalex.org/W1861767768","https://openalex.org/W1918907778","https://openalex.org/W1966586504","https://openalex.org/W1970037760","https://openalex.org/W1976162410","https://openalex.org/W1977178849","https://openalex.org/W1981103534","https://openalex.org/W2031987703","https://openalex.org/W2049324910","https://openalex.org/W2057287787","https://openalex.org/W2065061024","https://openalex.org/W2094863662","https://openalex.org/W2113814105","https://openalex.org/W2126186544","https://openalex.org/W2130052362","https://openalex.org/W2151428644","https://openalex.org/W2161215497","https://openalex.org/W2166513723","https://openalex.org/W2194306004","https://openalex.org/W2221993838","https://openalex.org/W2518913136","https://openalex.org/W2559731368","https://openalex.org/W2619049629","https://openalex.org/W2766910972","https://openalex.org/W2769182388","https://openalex.org/W2773243312","https://openalex.org/W2804265828","https://openalex.org/W2914846756","https://openalex.org/W2953875251","https://openalex.org/W3121173541","https://openalex.org/W3121734384","https://openalex.org/W3121910238","https://openalex.org/W3122255869","https://openalex.org/W3122482262","https://openalex.org/W3122526219","https://openalex.org/W3122538207","https://openalex.org/W3122875572","https://openalex.org/W3123502919","https://openalex.org/W3123854255","https://openalex.org/W3124142968","https://openalex.org/W3124794231","https://openalex.org/W3125319092","https://openalex.org/W3125615571","https://openalex.org/W3125967361","https://openalex.org/W3164035469","https://openalex.org/W4234667444","https://openalex.org/W4240193059","https://openalex.org/W4253889179"],"related_works":["https://openalex.org/W2953875251","https://openalex.org/W2898993546","https://openalex.org/W7110925559","https://openalex.org/W4416177051","https://openalex.org/W2767688714","https://openalex.org/W2767249092","https://openalex.org/W4396812399","https://openalex.org/W4412605800","https://openalex.org/W4410935092","https://openalex.org/W3122255869"],"abstract_inverted_index":{"Purpose":[0],"This":[1,198],"paper":[2,248],"aims":[3],"to":[4,65,102,130,188,206,253],"examine":[5],"the":[6,26,29,67,95,105,110,114,135,146,150,191,247,254,260],"relation":[7],"between":[8],"managerial":[9,18,24,32,78,90,99,154,157,202,228,231],"ability":[10,33,79,100,158,203,232],"and":[11,61,138,156,180,213,230,241],"stock":[12,46,84,214,242],"price":[13,47,85,215,243],"crash":[14,86,161,216,244],"risk,":[15],"conditional":[16,22],"on":[17,23,34,59,159,226],"overconfidence.":[19],"In":[20],"addition,":[21],"overconfidence,":[25],"authors":[27,68,75,96,121,147],"investigate":[28],"effect":[30,152,186],"of":[31,37,53,153,236,250,256],"firms\u2019":[35,160,173],"choice":[36,235],"bad":[38,106,132,210,237],"news":[39,107,133,211,238],"hoarding":[40],"channels,":[41],"which":[42],"result":[43],"in":[44,172,195,258],"a":[45,51,169],"crash.":[48],"Design/methodology/approach":[49],"Using":[50],"sample":[52],"24,289":[54],"firm-years":[55],"from":[56,63],"companies":[57],"listed":[58],"Compustat":[60],"CRSP":[62],"1994":[64],"2018,":[66],"conduct":[69],"panel":[70],"regression":[71],"analysis.":[72],"Findings":[73],"The":[74,120],"find":[76,97,122,148],"that":[77,98,125,149,201],"is":[80,92,163,168,204,249],"positively":[81],"associated":[82],"with":[83],"risk":[87,162,217],"only":[88],"when":[89,141,166,218],"overconfidence":[91,155,229],"high.":[93],"Furthermore,":[94],"seems":[101],"exacerbate":[103],"(attenuate)":[104],"withholding":[108,239],"by":[109,208],"overconfident":[111],"managers":[112,127,142,219],"using":[113],"earnings":[115],"guidance":[116],"(earnings":[117],"management)":[118],"channel.":[119],"limited":[123],"evidence":[124],"high-ability":[126],"are":[128,143,220],"likely":[129],"withhold":[131],"through":[134],"overinvestment":[136],"channel":[137],"\u201cother":[139],"channels\u201d":[140],"overconfident.":[144,221],"Finally,":[145,246],"joint":[151],"more":[164],"pronounced":[165],"there":[167],"material":[170],"weakness":[171],"internal":[174],"controls,":[175],"high":[176,181],"investor":[177],"belief":[178],"heterogeneity":[179],"information":[182],"asymmetry.":[183],"However,":[184],"this":[185],"appears":[187],"dissipate":[189],"during":[190],"recent":[192],"financial":[193],"crisis":[194],"2008.":[196],"Originality/value":[197],"research":[199],"reveals":[200],"costly":[205],"firms":[207],"engendering":[209],"hoardings":[212],"It":[222],"also":[223],"sheds":[224],"light":[225],"how":[227],"affect":[233],"managers\u2019":[234],"channels":[240],"risk.":[245],"practical":[251],"value":[252],"board":[255],"directors":[257],"selecting":[259],"prospective":[261],"executives.":[262]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2021-08-30T00:00:00"}
