Purpose: This research aims to investigate the impact of corporate integrity on stock price crash risk. Research design, data, and methodology: Taking 1419 firms listed in Shenzhen Stock Exchange in China as a sample, this paper empirically analyzed the relationship between corporate integrity and stock price crash risk. The main integrity data was hand-collected from Shenzhen Stock Exchange Website. Other financial data was collected from CSMAR Database. Results: Findings show that corporate integrity can significantly decrease stock price crash risk. After changing the selection of samples, model estimation methods and the proxy variable of stock price crash risk, the conclusion is still valid. Further research shows that the relationship between corporate integrity and stock price crash risk is only found in firms with weak internal control and firms in poor legal system areas. Conclusions: Results of the study suggest that corporate integrity has a significant influence on behaviors of managers. Business ethics reduces the likelihood of managers to overstate financial performance and hide bad news, which leads to the low likelihood of future stock price crashes. Meanwhile, corporate integrity can supplement internal control and legal system in decreasing stock price crash risks.

Abstract
1. Introduction
2. Literature Review and Theoretical Analysis
3. Methodology
    3.1 Sample Selection and Data Source
    3.2 Definition of Variables
    3.3 Model design
4. Results and Discussion
    4.1. Descriptive Statistics
    4.2 Multivariate Regression Results
    4.3. Robust test
    4.4. Further Discussion
5. Conclusions
References

• Ruonan ZHANG(Department of International Trade, Business School, Suzhou Vocational University) Corresponding Author
• Hong YIN(Department of Accounting, Business School, Suzhou Vocational University)