scholarly journals Equity pledge of major shareholders, quality of information disclosure and synchronization of stock price

2021 ◽  
Vol 235 ◽  
pp. 01032
Author(s):  
Qin Yue ◽  
Jiameng Chen
Keyword(s):  
Information Disclosure ◽  
Stock Price ◽  
Disclosure Quality ◽  
Quality Of Information ◽  
Large Shareholder ◽  
Negative Role ◽  
The Impact ◽  
The Relationship

The synchronization of stock price is an important index to measure the information of stock price. Compared with the countries with mature capital market, the synchronization of stock price in China is on the high side, and the fluctuation of stock price often presents the phenomenon of “rising and falling together”. This paper studies the impact of pledge of major shareholders’ equity on the synchronization of stock price, and further explores the role of information disclosure quality. Based on the data of China’s A-share listed companies in 2013-2019, the empirical study shows that: there is a large shareholder equity pledge in enterprises, and the synchronization of stock price is higher, and with the increase of the proportion of large shareholder equity pledge, the impact is more significant; the quality of information disclosure plays a significant negative role in the relationship between the synchronization of large shareholder equity pledge and stock price, easing the impact of large shareholder equity pledge the impact on stock price synchronization.

scholarly journals The Link between Information Transparency and Investment Efficiency: A Literature Review

2018 ◽  
Vol 8 (4) ◽  
pp. 71
Author(s):  
Thi Thanh Huyen Le
Keyword(s):  
Information Disclosure ◽  
Stock Price ◽  
Investment Efficiency ◽  
Quality Of Information ◽  
Stock Liquidity ◽  
Information Transparency ◽  
Firm Investments ◽  
Role Of Information

Investigating the role of information has been recently a hot topic attracting many researchers. A large number of studies have examined the effect of information on cost of capital (Christine A. Botosan, 1997; Diamond & Verrecchia, 1991; Easley & O’Hara, 2004), stock price (Welker, 1995), and stock liquidity (Leuz & Wysocki, 2008). It is demonstrated that the increase in both quantity and quality of information brings benefits to firms as well as the capital markets (Healy & Palepu, 2001). More specifically, many studies indicate the beneficial influence of information disclosure in improving the efficiency of firm investments (Biddle & Hilary, 2006; Biddle, Hilary, & Verdi, 2009; Cheng, Dhaliwal, & Zhang, 2013; Gomariz & Ballesta, 2014; Lai, Liu, & Wang, 2014). This paper presents a review of literature about the relation between information transparency and firms’ investment efficiency. 

INTERACTION BETWEEN NEW TECHNOLOGIES AND THE EXPERIENCE OF THE GUESTS IN THE HOSPITALITY INDUSTRY

2020 ◽  
Author(s):  
Kosara Gotseva ◽  
Keyword(s):  
New Technologies ◽  
Positive Experience ◽  
Positive Interaction ◽  
Global Trends ◽  
Visitor Satisfaction ◽  
Scientific Report ◽  
The Impact ◽  
The Relationship

The scientific report aims to highlight the positive interaction between technology and hotel guests. The relationship between technology and customer experience is examined. The role of innovation as a tool for enhancing the positive experience of tourists is highlighted. The focus is on digital applications and their relationship to satisfaction. The main global trends that demonstrate the impact of hotel automation on visitor satisfaction are outlined. Attention has been focused on research from recent years. The author defends the thesis that guests seek interaction with automation as it directly affects the quality of service and thus enhances their positive experience. Innovation is a key tool for creating a quality experience.

Does negative information in MD&A can reduce stock crash risk?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jianmai Liu
Keyword(s):  
Information Asymmetry ◽  
Information Disclosure ◽  
Stock Price ◽  
Negative Information ◽  
Bad News ◽  
Practical Significance ◽  
Crash Risk ◽  
Content Type ◽  
The Impact

Purpose As an important part of the disclosure of listed companies' annual reports, MD&A will disclose some "bad news" about the company. The purpose of this paper is to study whether such "bad news" can reduce information asymmetry and alleviate the risk of stock price crash remains to be seen. Design/methodology/approach Based on the sample of A-share listed companies from 2007 to 2016, the authors examine whether the negative information in MD&A could reduce stock price crash risk. Findings It is found that the negative information in MD&A does not reduce future crash, which indicates that the negative information in MD&A does not alleviate the information asymmetry. Further, it is also found this is due to the low readability of negative information which leads to the negative information not successfully released into the market timely. Only highly readable negative information can alleviate information asymmetry and suppress crash risk. In addition, the authors also find in the companies with more investor surveys negative tone is negatively correlated with crash risk, which means that investor surveys could help investors interpret the negative information in MD&A and alleviate stock price crash risk. Practical implications The practical significance of this article: this paper suggests that investors should carefully identify the quality of negative information in MD&A and pay attention to other quality characteristics besides credibility. This paper suggests that the regulator should pay attention not only to whether to disclose and the amount of disclosure but also to the quality of information disclosure, such as readability, so as to restrict management's strategic behavior in information disclosure. Originality/value First, different from previous studies on the impact of information disclosure on crash risk, this paper directly explores the impact of information in MD&A on stock price crash risk from the perspective of negative information disclosure that management most want to hide. It supplements the literature on the impact of information disclosure on stock price crash risk. Second, this paper studies the interaction between information tone and readability and its impact on the risk of stock price crash. Some studies believe that the credibility of negative news is higher and investors' reaction may be stronger. However, this paper finds that the disclosure of negative information may not be absorbed by the market because of the low readability. Third, this paper finds that investor surveys can help information users to interpret negative information and alleviate the risk of stock price crash, which shows that information disclosure of different channels will complement each other and improve information efficiency. Therefore, it advocates different information disclosure channels which has important practical significance for improving market pricing efficiency and reducing investment decision-making risk.

Performance of Carbon Emission Management, Carbon Information Disclosure and Firm Value Creation: A Theoretical Research Framework

2012 ◽  
Vol 524-527 ◽  
pp. 2602-2606
Author(s):  
Qiao Liang Zhang ◽  
Qin Qiong Yu
Keyword(s):  
Firm Value ◽  
Information Disclosure ◽  
Carbon Emission ◽  
Theoretical Research ◽  
Disclosure Quality ◽  
Global Capital ◽  
Key Topics ◽  
The Relationship ◽  
Functioning Mechanism

The companies’ performance of carbon emission management will have effects on the firms value via the carbon information disclosure. It is better to based on the global capital market when addressing the relationship among the performance of carbon emission reduction，the quality of carbon information disclosure and the firm value. The key topics of research should be focused on the motivation and efficiency of carbon information disclosure, the quality index of carbon information disclosure, the functioning mechanism of carbon emission management performance and carbon information disclosure quality on firm value, and the preparation of carbon disclosure report.

scholarly journals Heterogeneity of demand and product innovation

2017 ◽  
Vol 47 (1) ◽  
pp. 5-37 ◽  
Author(s):  
Thiago Caliari ◽  
Marco Valente ◽  
Ricardo Machado Ruiz
Keyword(s):  
Product Innovation ◽  
Imperfect Information ◽  
Evolutionary Model ◽  
Quality Of Information ◽  
Choice Procedures ◽  
Differentiated Goods ◽  
The Relationship ◽  
Role Of Information

Abstract This paper discusses the relationship between heterogeneity of demand regarding choice procedures and product innovation. We propose an evolutionary model showing how consumers with imperfect information chose and select differentiated goods. The model shows the role of information and choice procedures and its relation with the innovative process. The price plays an important role, but the quality of information, error tolerance and criteria for preference ordering are important determinants of the performance of firms in an industry with product innovation.

scholarly journals Kultura organizacyjna jako moderator związków pomiędzy zaufaniem organizacyjnym a jego determinantami i następstwami

2021 ◽  
Vol 65 (1) ◽  
pp. 169-196
Author(s):  
Lech Górniak ◽  
Keyword(s):  
Organizational Culture ◽  
Organizational Trust ◽  
Field Studies ◽  
Industry Type ◽  
Type Size ◽  
The Impact ◽  
The Relationship ◽  
Do So

The paper includes analysis of the results of field studies conducted among employees of 20 organizations (N=601). The analyses were aimed at determining the impact of organizational culture has on the relationships between the “soft” (psychological and social) factors that characterize them. In particular the impact of organizational culture was considered on the relationship between the antecedents and outcomes of organizational trust. The statistical method used was moderation analysis (Hayes, 2018). The studies were based on a questionnaire that included 13 scales as measures for the variables considered. The analyses provides two main conclusions. The first is for researchers dealing with the soft aspects of the organization’s functioning, especially those related to the role of trust in the organization. The second is addressed to practitioners and relates to the quality of knowledge on employee management. The conclusion for the researchers concerns the need to take into account the specificity of a given organization when describing organizational phenomena. This concerns the tacit factors that go beyond the standard characteristics (industry type, size of the organization, number of employees, etc.), in particular those aspects of the organizational culture related to organizational trust. The failure to do so may lead to inadequate advice for executives regarding the methods used to develop the organization’s potential. The conclusion for practitioners is the need to pay attention to how employees perceive the organizational culture of their company. The omission of this fact may adversely affect the strategy of building a climate of trust, which can lead to a decrease in teamwork quality and a reduction in the superior-subordinate relationship.

scholarly journals The Board Faultlines and Corporate Disclosure Quality: Based on Big Data Samples and Economic Model

2021 ◽  
Vol 251 ◽  
pp. 01043
Author(s):  
Qian Xing
Keyword(s):  
Big Data ◽  
Economic Model ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Listed Companies ◽  
Corporate Disclosure ◽  
Disclosure Quality ◽  
Research Findings ◽  
The Impact

This article uses the selected data listed companies in Shenzhen Stock Exchange from 2008 to 2018 as big data samples to empirically study the impact of the board faultlines on corporate disclosure quality. Through statistical analysis and economic model, it transforms qualitative questions into quantitative questions. The results of the study show that the existence of the board faultlines will reduce the quality of information disclosure of listed companies. After a series of robustness tests, the above research findings are still robust.

scholarly journals The Role of Social Networks as a Tool for an Effective Recruitment Process in the Enterprises in Kosovo

2021 ◽  
Vol 8 (3) ◽  
pp. 384-388
Author(s):  
Blerim Dragusha ◽  
Vlora Prenaj
Keyword(s):  
Social Networks ◽  
Processing Speed ◽  
Low Cost ◽  
Competitive Advantages ◽  
Recruitment Process ◽  
Quality Of Information ◽  
The Impact ◽  
Main Factor

This paper focuses on the determinants of the impact of social networks on the recruitment process in Kosovar enterprises, concluding that the main factor of that impact is the quality of information, cost benefits, and timeliness. Another factor of particular importance is the competitive advantages social networks provide with respect to efficiently attracting suitable candidates to recruit through their unified data processing speed. The managers interviewed in this study provided evidence that recruitment using social networks is faster than with traditional methods. Social networks enable firms to quickly and easily access applicants from all over the world easily at a low cost. Social networks provide in-depth discussions to understand the views and opinions of both parties in the recruitment process. The information provided by social networks on the personal and professional life of the potential job candidate makes social networks an important tool for recruitment

scholarly journals Exacerbating the privacy paradox: Investigating cognitive load’s impact on disclosure

2021 ◽  
Author(s):  
◽  
Paul Harrison
Keyword(s):  
Cognitive Load ◽  
Perceived Risk ◽  
Information Disclosure ◽  
Personal Information ◽  
Load Condition ◽  
Disclosure Quality ◽  
Key Factor ◽  
Privacy Paradox ◽  
The Impact

<p>Consumers have become the targets of a dual threat; more frequent requests for personal information and increased multitasking leading to distraction. This paper investigates the impact of cognitive load on the propensity to disclose personal information. A between-subjects experimental design was employed wherein participants completed a fictitious company questionnaire which asked for personal information whilst participants simultaneously remembered a 7-digit (Cognitive load condition) or 2-digit (Control condition) number. Upon completion of the questionnaire participants were asked to recall their number before answering several additional surveys and demographic questions. The results suggest that cognitive load influences the level of personal information disclosure in such a way that individuals tasked to remember a 7-digit number were more likely to disclose their personal information. Results also demonstrated the impact of information sensitivity, perceived risk, perceived worry, and need for cognition on three dependent variables: absolute disclosure, quality of disclosure, and response latency. The research adds greater nuance to the privacy paradox literature by proposing cognitive load as a key factor. Moreover, the results provide implications for marketing practitioners and policymakers regarding the acquisition of consumer’s personal information.</p>

Demographic variables as moderators between QWL and OCB

2019 ◽  
Vol 51 (7/8) ◽  
pp. 396-408
Author(s):  
Mohit Yadav ◽  
Santosh Rangnekar ◽  
Anugamini Priya Srivastava
Keyword(s):  
Organizational Citizenship ◽  
Demographic Variables ◽  
Quality Of Work Life ◽  
Content Type ◽  
Study Process ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to examine the impact of quality of work life (QWL) on organizational citizenship behaviour (OCB) of employees. Also, the paper examines the role of demographic variables, i.e. gender, position and type of organization as moderators of relationship between QWL and OCB. Design/methodology/approach A survey with sample of 375 was used in this study. PROCESS tool by Hayes (2013) was used to analyze the relation between QWL, OCB and demographic variables. Findings QWL was found to positively influence OCB. Gender and type of organization were found to moderate the relationship, whereas position failed to moderate the relation significantly. Practical implications The study reinforced the significance of QWL practices by organizations to improve extra-role behaviours of employees. Also, importance of considering gender and the industry you are in is emphasized in using and designing the QWL programme for employees. Originality/value While many antecedents have been studied in relation to OCB, QWL is rarely discussed. The paper attempts to reemphasize QWL’s importance in doing so in light of demographic variables as moderators.

Sign in / Sign up

Export Citation Format

Share Document