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2022 年 6 月 8 日教育部、科技部「高教深耕特色領域中心」臺大計量中心成果發表會線上講座系列 - Litigation Loss Contingency Disclosures and Firm-level Stock Price Crash Risk

訊息標題:

2022 年 6 月 8 日教育部、科技部「高教深耕特色領域中心」臺大計量中心成果發表會線上講座系列 - Litigation Loss Contingency Disclosures and Firm-level Stock Price Crash Risk

簡介摘要:

臺大計量中心執行教育部與科技部「高教深耕特色領域中心」專案計畫「國家整體發展的數據分析與評估」,包含4個子計畫、23個孫計畫,本系列為孫計畫成果發表線上講座之4;相關資訊如下:

 

【 6 月 8 日 「高教深耕特色領域中心」臺大計量中心成果發表會

日期:2022 年 6 月 8 日 (週三) 上午 10:30~12:00

地點:線上舉行

講者:黃馨儀副教授 (逢甲大學會計學系)

演講主題:Litigation Loss Contingency Disclosures and Firm-level Stock Price Crash Risk

 

講題摘要:

臺大計量中心執行教育部與科技部「高教深耕特色領域中心」專案計畫「國家整體發展的數據分析與評估」,以下包含4個子計畫、23個孫計畫,本次成果講座為子計畫二之孫計畫三「法規對公司經營決策之影響」之研究成果,主題為「Litigation Loss Contingency Disclosures and Firm-level Stock Price Crash Risk」,主講人為「黃馨儀 / 逢甲大學會計學系副教授」,演講綱要:This paper investigates the relation between opacity in litigation loss contingency disclosures and firm-level stock price crash risk. SFAS 5 provides disclosure guidance regarding potential losses from pending litigation, but managers can take advantage of the subjectivity inherent in SFAS 5 to hide or delay the disclosure of bad news related to litigation. We find that greater opacity of litigation contingency disclosures is associated with higher price synchronicity (e.g., a reduction in firm-specific information available to the market) and higher one-quarter-ahead stock price crash risk, particularly for firms with a lower institutional investor base. The positive relation between the opacity of litigation contingency disclosures and stock price crash risk is partially (but not fully) driven by the release of surprise litigation news in the next quarter.  Our study is among the first to document the market consequences of opacity in litigation loss contingency disclosures. We also provide initial evidence on how firm’s change their disclosure decisions following a stock price crash.

 

講者介紹:

講者:黃馨儀為逢甲大學會計學系副教授、臺大計量中心「高教深耕特色領域中心」專案計畫協同研究人員

 

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報名期限:2022/6/7 (二)  中午 12:00

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