عنوان مقاله [English]
نویسنده [English]چکیده [English]
One of the factors that led to stock price crash is managers’ activities to conceal bad news and negative performance inside of the company. If the CEO has a dual role with regard to influence and power will be better hoarding company Bad news In line with their interests that it would increase its stock price crash risk. The dual role of CEO refers to a situation where the CEO is also the Chairman or Vice Chairman of the Board. The purpose of this study is to determine the effect of CEO duality on the future stock price crash risk .In order to attain the research purpose, 98 companies among the listed companies in Tehran Stock Exchange during the years of 1388 to 1393 (2010 – 2015) were selected as statistical sample. Stock price crash risk was computed by utilizing the two criteria. In order to test the hypothesis, by using two measures Stock price crash risk, multivariate linear regression model and panel data have been used. The results of this study indicated that CEO duality has a positive and significant effect on each two criterion related to the stock price crash risk. In other word, CEOs’ dual role cause increasing possibility of stock price crash risk.