نوع مقاله : مقاله پژوهشی
عنوان مقاله English
نویسندگان English
The investigation of stock price crash risk as a significant characteristic of return distribution in capital markets is of particular importance. Accordingly, recent studies have examined various internal, managerial, and external factors affecting this risk and its implications for other variables. The present study focuses on operating leverage as an explanatory variable and aims to investigate its relationship with stock price crash risk in companies listed on the Tehran Stock Exchange (TSE). For this purpose, data from 139 TSE-listed companies spanning the years 2013 to 2022 were collected and analyzed using panel data fixed-effects regression methodology. This research is applied in nature and employs a correlational regression analysis approach. The research hypothesis was tested using multivariate panel regression analysis. The findings demonstrate that companies facing higher stock price crash risk tend to maintain lower levels of operating leverage.
کلیدواژهها English
