Intangible Assets and Crash Risk: The Case of Low Intellectual Capital Firms in Indonesia

This study explores how intangible assets affect crash risk in Indonesia as the representative of emerging markets, especially for low intellectual capital firms. We employ regression analysis to investigate effect on Indonesia. The findings suggest that firms with are more vulnerable risk. Our further investigations also find stimulate IC firms, but cannot explain high implies Indonesia’s use explorative innovation strategies rather than exploitative strategies. paper warns investors about increasing overvalued and guides anticipating future crashes. JEL Classifications: G11, G40, O31