Our research

Our academic staff are at the forefront of global thinking on issues relating to wealth and wellbeing, strong organisations, transformative innovation, and the

Student resources

Whether you're a new or continuing student, you can find everything you need here about managing your program and the opportunities available to you.


Our alumni may be found in the world’s leading companies, policy agencies and universities.

Contact us

Find contact details for any general enquiries.

Financial Statement comparability and expected crash risk

Financial Statement comparability and expected crash risk

Jeong-Bon Kim, Leye Li, Louise Lu and Yangxin Yu

This study examines the impact of financial statement comparability on ex ante crash risk. Using the comparability measures of De Franco, Kothari, and Verdi (2011), we find that expected crash risk decreases with financial statement comparability, and this negative relation is more pronounced in an environment where managers are more prone to withhold bad news.

We also provide evidence that comparability can mitigate the asymmetric market reaction to bad versus good news disclosures. Our results suggest that financial statement comparability disinclines managers from bad news hoarding, which reduces investors’ perceptions of a firm’s future crash risk.

Partnership opportunities available

Our College is actively engaged in partnering with industry for the co-creation of value in areas congruent with our research agenda

Find out more >>

Other research you might be interested in


Updated:   18 February 2017 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team