Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 5 19 2020 12 01 Investigating the Factors Affecting the Negative skewness of stock returns in Tehran Stock Exchange 135 142 16893 EN Mahnaz Eslamdoost Ph.D Student, Department of Accounting, Central Tehran Branch, Islamic Azad University, Tehran, Iran Rostam Ranjbar Navi Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran Hassan Chenari Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran Journal Article 2020 03 25 The aim of this study investigating the factors affecting the negative skewness of stock returns in Tehran Stock Exchange. For this purpose, the financial statements of 119 firms were collected during the period 2011-2017. Multivariate regression with panel data was used to test the hypotheses. The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk.<br />The aim of this study investigating the factors affecting the negative skewness of stock returns in Tehran Stock Exchange. For this purpose, the financial statements of 119 firms were collected during the period 2011-2017. Multivariate regression with panel data was used to test the hypotheses. The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk.<br />The findings of the study indicate that debt maturity, conservatism, political connection, financial constraint, stock liquidity, and institutional ownership are the most important factors influencing stock prices crash risk. http://www.ijfma.ir/article_16893_29da4aac5068b8bb36121391799925fa.pdf