الفهرس 
Title : Reviewing Unsystematic Risk: Firm-Level Crash Risk Evidence from Egypt
AbstractOnly 14 pages are availabe for public view
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Abstract
When it comes to extreme movements in the stock market, the more abrupt ones of them are drops in price, ergo, stock-price crash. Financial economists have long viewed stock price dynamics as tied up to new information releases, especially, firm-specific information. Firm-specific risk, the portion unexplained by the market factor has raised much controversy.Toward that end, this study directly tests if the financial reporting opacity and asymmetric disclosure of corporate news are trivial for firm-level crash risk assessment.The study employed sample data from the Egyptian capital market, which defines a setting dominated lately by firm-level crashes. Results demonstrated that Egyptian capital market is drastically afflicted and overwhelmed by financial reporting opacity and information asymmetry pervasiveness.This study sheds the light on how firms operating in settings of poor financial reporting practices and asymmetric corporate disclosures are more prone to crash