scholarly journals Risk Disclosures, International Orientation, and Share Price Informativeness: Evidence from China

2017 ◽  
Author(s):  
Youchao Tan ◽  
Cheng Zeng ◽  
Tamer Elshandidy
Keyword(s):  
Share Price ◽  
Price Informativeness ◽  
International Orientation ◽  
Risk Disclosures

scholarly journals Risk disclosures, international orientation, and share price informativeness: Evidence from China

2017 ◽  
Vol 29 ◽  
pp. 81-102 ◽  
Author(s):  
Youchao Tan ◽  
Cheng Colin Zeng ◽  
Tamer Elshandidy
Keyword(s):  
Share Price ◽  
Price Informativeness ◽  
International Orientation ◽  
Risk Disclosures

Does Analyst Coverage Affect Share Price Informativeness of Chinese Listed Firms?

2013 ◽  
Author(s):  
Rong Ding ◽  
Wenxuan Hou ◽  
Jing-Ming Kuo ◽  
Edward Lee
Keyword(s):  
Share Price ◽  
Price Informativeness ◽  
Analyst Coverage ◽  
Listed Firms

Share price informativeness and dividend smoothing behavior in GCC markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Razaz Felimban ◽  
Sina Badreddine ◽  
Christos Floros
Keyword(s):  
Private Information ◽  
Developed Countries ◽  
Share Price ◽  
Price Informativeness ◽  
Content Type ◽  
Share Prices ◽  
Listed Firms ◽  
Gcc Countries ◽  
Study Results ◽  
Dividend Smoothing

PurposeThis paper examines the dividend smoothing (DS) behaviour in the Gulf Cooperation Council (GCC) countries in emerging markets where the response to news and the economic environment are different from those of developed countries.Design/methodology/approachThe authors examine the effect of share price informativeness on DS in the GCC markets using unbalanced panel data for a sample of 628 GCC-listed firms during 1994–2016. For the regression analysis, the hypotheses are tested using panel regressions and generalised method of moments (GMM) estimation.FindingsFirst, the Lintner model shows that the DS degree in GCC firms is comparable to that of a developed market. Second, and importantly, the results reveal that the DS in GCC firms is sensitive to private information of share prices. Finally, the findings indicate that information asymmetry (IA) and agency-based models affect the tendency to smooth dividends in the GCC markets.Originality/valueThis study is the first study to measure the degree of DS using data for all GCC countries. The authors also identify other determinants of DS behaviour and test the agency and IA explanations for DS in GCC-listed firms. The findings are highly recommended to financial managers and analysts dealing with the GCC markets. This study helps financial analysts to use the share price informativeness as an indicator for the presence of the IA. The study results are beneficial to researchers in understanding the relationship between DS and share price informativeness.

Dividend Taxes, Investor Horizon and Idiosyncratic Volatility

2020 ◽  
Author(s):  
Oliver Zhen Li ◽  
Hang Liu ◽  
Chenkai Ni
Keyword(s):  
Stock Price ◽  
Trading Volume ◽  
Share Price ◽  
Idiosyncratic Volatility ◽  
Individual Investors ◽  
Short Term ◽  
Price Informativeness ◽  
Holding Period ◽  
Lock In ◽  
Dividend Tax

We examine whether dividend tax induced lock-in reduces idiosyncratic volatility. The 2012 Dividend Tax Reform in China tied individual investors' dividend tax to the length of their share holding period, with short-term individual investors entering into higher tax brackets. We find that high dividend firms experience a reduction in idiosyncratic volatility, relative to low dividend firms, after the reform. The effect is more pronounced when high dividend firms have more retail investors and exhibit greater uncertainty. High dividend firms also experience a reduction in stock price crashes. Finally, with reduced trading by individual investors who are likely less informed, earnings announcements of high dividend firms trigger less trading volume during the event window post-reform, but enable more complete price reactions. We conclude that dividend tax induced lock-in, through discouraging short-term individual investors' trading, stabilizes the market and improves share price informativeness.

Change in Sharia Screening Methodology and Share Price Informativeness

2018 ◽  
Author(s):  
Yessy A. Peranginangin ◽  
Sheena Sara Suresh Phillip ◽  
Tee Ming
Keyword(s):  
Share Price ◽  
Price Informativeness

Integrated Report Quality: Share Price Informativeness and Proprietary Costs

2021 ◽  
Author(s):  
Mary E. Barth ◽  
Steven F. Cahan ◽  
Lily Chen ◽  
Elmar R. Venter
Keyword(s):  
Share Price ◽  
Price Informativeness ◽  
Proprietary Costs ◽  
Report Quality

The economic consequences of voluntary environmental reporting on shareholder wealth

2006 ◽  
Vol 3 (2) ◽  
pp. 1 ◽  
Author(s):  
Ruslaina Yusoff ◽  
Shariful Amran Abd Rahman ◽  
Wan Nazihah Wan Mohamed
Keyword(s):  
Abnormal Return ◽  
Listed Companies ◽  
Shareholder Wealth ◽  
Environmental Information ◽  
Economic Consequences ◽  
Share Price ◽  
Cumulative Abnormal Return ◽  
Environmental Reporting ◽  
Financial Report ◽  
Significant Difference

This study was carried out to examine the economic consequences ofvoluntary environmental reporting on shareholders' wealth among Malaysian Listed Companies that voluntarily disclosed environmental information in their financial report. One hundred andfifty two (152) companies of Bursa Malaysia (MSE) had been identified as a sample in the current study. Seventy six (76) companies were classified as environmental reporting companies while the remaining companies were classified as non-environmental reporting companies. The classification was done in order to determine the differences between share price, profitability and market equity for both types of companies. The study hypothesizes that voluntary environmental reporting leads to an improvement in the shareholders wealth. However, the results show that there is no significant difference between cumulative abnormal return for environmental and non-environmental reporting companies. Based on the results obtained, it can also be concluded that profitability and size of the companies do not have any significant roles in deciding whether or not to produce environmental reporting companies.

Determinants of Export Oriented Entrepreneurs from Southeast Europe Region

2018 ◽  
Vol 56 (4) ◽  
pp. 439-452
Author(s):  
Bojan Leković ◽  
Miodrag Petrović ◽  
Nemanja Berber
Keyword(s):  
Early Stage ◽  
New Technology ◽  
Geographical Area ◽  
Southeast Europe ◽  
Social Phenomena ◽  
East Europe ◽  
Individual Level ◽  
International Orientation ◽  
Entrepreneurial Behaviour ◽  
South East Europe

Abstract The subject of this research represents analysis of internationalisation activity of early-stage entrepreneurs in South East Europe region (SEE). The goal of this study is to determine characteristics of export oriented entrepreneurs from SEE region through the study of factors influencing international orientation. Geographical area of this research consists of countries from the South East Europe region. The research sample was formed on the basis of GEM - Global Individual Level Data, covering six countries (Slovenia, Croatia, Hungary, Romania, Bosnia and Herzegovina, and FYR of Macedonia), 12027 respondents of which 645 export-oriented entrepreneurs were identified. Collected data are processed using the software package for statistical analysis. With the help of Ordinal Logistic regression, significant influence of individual factors on the international orientation of entrepreneurs was identified. Research results showed that entrepreneurial motives, entrepreneurial KSA’s, innovation and new technology have a positive relationship with internationalization activity. One of the significant limitations of this paper is the lower Nagelkerk coefficient, which is characteristic for social phenomena. Bearing in mind the fact that this research trying to explain entrepreneurial behaviour, lower coefficients can be very meaningfull.

Effect Of Leverage, Inflation And GDP To Share Price Pt. Astra Otoparts Tbk.

ProBank ◽  
2018 ◽  
Vol 3 (2) ◽  
pp. 17-21
Author(s):  
Heriyanta Budi Utama ◽  
Florianus Dimas Gunurdya Putra Wardana
Keyword(s):  
Gross Domestic Product ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Share Price ◽  
Domestic Product ◽  
Coefficient Of Determination ◽  
Test Results ◽  
Purposive Sampling

The purpose of this study was to obtain empirical evidence about the effect of leverage, inflation and Gross Domestic Product (GDP) of the share price at PT. Astra Autopart, Tbk. companies in Indonesia Stock Exchange in 2011-2015. The sampling technique in this study using a purposive sampling. With the technique of purposive  sampling, all the members of the research samples by criteria. Samples that meet the criteria are used research data. Then followed the classic assumption test and test hypotheses by linear regression. The results of this study demonstrate the regression results in regression equation that Y = 2605,424 + 1561,550 X1 + 2,338 X2 + 38,994X3. T test results showed that the leverage anda GDP (Gross Domestic Product) is positive and significant effect on stock prices, while inflation is not positive and significant effect on stock prices. F test results showed that jointly leverage variables, inflation and GDP variables affecting the stock price significantly. The test results R2 (coefficient of determination) found that the variable leverage, inflation and GDP able to explain 35,4% of the stock price variable, while the remaining 64,6% is explained by other variables.Keywords: leverage, inflation, GDP, and the share priceThe purpose of this study was to obtain empirical evidence about the effect of leverage, inflation and Gross Domestic Product (GDP) of the share price at PT. Astra Autopart, Tbk. companies in Indonesia Stock Exchange in 2011-2015.The sampling technique in this study using a purposive sampling. With the technique of purposive  sampling, all the members of the research samples by criteria. Samples that meet the criteria are used research data. Then followed the classic assumption test and test hypotheses by linear regression.The results of this study demonstrate the regression results in regression equation that Y = 2605,424 + 1561,550 X1 + 2,338 X2 + 38,994X3. T test results showed that the leverage anda GDP (Gross Domestic Product) is positive and significant effect on stock prices, while inflation is not positive and significant effect on stock prices. F test results showed that jointly leverage variables, inflation and GDP variables affecting the stock price significantly. The test results R2 (coefficient of determination) found that the variable leverage, inflation and GDP able to explain 35,4% of the stock price variable, while the remaining 64,6% is explained by other variables.Keywords: leverage, inflation, GDP, and the share price

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