| 摘要 | 第5-6页 |
| ABSTRACT | 第6页 |
| CHAPTER 1 INTRODUCTION | 第10-14页 |
| CHAPTER 2 LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT | 第14-20页 |
| 2.1 Bad news hoarding theory | 第14页 |
| 2.2 Bad news hoarding activities and stock price crashes | 第14-15页 |
| 2.3 Corporate diversification, information hoarding and crash risk | 第15-16页 |
| 2.4 corporate diversification, default risk, and crash risk | 第16-18页 |
| 2.5 Cross-sectional analyses of the association between corporate diversification and futurecrash risk | 第18-20页 |
| 2.5.1 Institutional investors, corporate diversification and crash risk | 第18-19页 |
| 2.5.2 Corporate governance, corporate diversification, and crash risk | 第19-20页 |
| CHAPTER 3 RESEARCH METHODOLOGY | 第20-27页 |
| 3.1 Research design | 第20页 |
| 3.2 Data sources and sample selection | 第20页 |
| 3.3 Measurement of major variables | 第20-23页 |
| 3.3.1 Corporate diversification measure | 第20-21页 |
| 3.3.2 Crash risk measures | 第21-23页 |
| 3.4 Sample description and Correlation matrix | 第23页 |
| 3.6 Multivariate regression | 第23-26页 |
| 3.7 Test of H2 and H3 | 第26-27页 |
| CHAPTER 4 RESULTS AND DISCUSSION | 第27-33页 |
| 4.1 Empirical results and analysis on Hl | 第27-28页 |
| 4.1.1 Main results | 第27-28页 |
| 4.2 The effect of institutional investors and corporate governance on the relation betweenCORPORATE DIVERSIFICATION and crash risk | 第28-30页 |
| 4.2.1 Empirical results and analysis on H2 | 第28-29页 |
| 4.2.2 Empirical results and analysis on H3 | 第29-30页 |
| 4.3 Addressing endogeneity | 第30-31页 |
| 4.4 Propensity Score Matching Test | 第31-33页 |
| CHAPTER 5 CONCLUSION | 第33-35页 |
| REFERENCES | 第35-42页 |
| LIST OF TABLES | 第42-53页 |
| APPENDIX A-Summary of Variable Definitions | 第53-54页 |
| ACKNOWLEDGEMENT | 第54-55页 |
| DEDICATION | 第55页 |
