Stock Price Crash Risk of Listed Companies with A Senior Executive Concurrently Serving as Board Secretary

As the board secretary is vital to information disclosure of a listed company, will the quality of information disclosure be reduced if a senior executive concurrently serves as board secretary, thus increasing the stock price crash risk? In this study, internal relation between the senior executive concurrently serving as board secretary and stock price crash risk is investigated with A-share listed companies as examples. This study finds that stock price crash risk of listed companies will be increased if a senior executive concurrently serves as board secretary. Study conclusions show that the information disclosure quality of listed companies will impair and their stock price crash risk will increase when a senior executive concurrently serves as board secretary. Therefore, the supervision of listed companies whose senior executives serve as part-time board secretaries should be enhanced to reduce the crash risk of their stock prices.