The Role of Business Press in Security Pricing: Initial Evidence from the Korean Stock Market

2020 ◽  
Vol 29 (5) ◽  
pp. 311-351
Author(s):  
Sehee Kim ◽  
Meeok Cho ◽  
Woo-Jong Lee ◽  
David Park
Keyword(s):  
Stock Market ◽  
Business Press ◽  
Korean Stock Market ◽  
Security Pricing

scholarly journals Do Financial Analysts Facilitate Investors’ Assessment Of Earnings?: Evidence From The Korean Stock Market

2016 ◽  
Vol 32 (5) ◽  
pp. 1465
Author(s):  
Sukyoon Jung ◽  
Yong-Seok Lee ◽  
Seong-jin Choi
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Emerging Market ◽  
Financial Analysts ◽  
Analyst Following ◽  
Earnings Information ◽  
Information Intermediaries ◽  
Korean Stock Market

This paper seeks to enhance our understanding of financial analysts in assisting market investors’ use of accounting earnings in the Korean stock market. We examine whether stock returns differentially reflect earnings information for firms with analyst coverage. We propose that the role of analysts as external monitors as well as information intermediaries enhances the market investors’ valuation of earnings. We find that market valuation of earnings is higher for firms with analyst following. Furthermore, market investors’ valuation of earnings increases (or decreases) with the number of analysts (or with the dispersion of analysts’ forecasts). This suggests that the beneficial effect of analysts arises through the quantity and quality of analysts’ information. This study contributes to the literature by investigating the important role of analysts in emerging market.

Sidecar Performance: Evidence from the Korean Stock Market

2007 ◽  
Vol 15 (1) ◽  
pp. 1-40
Author(s):  
Jong Won Park ◽  
Yun Sung Eom ◽  
Uk Chang
Keyword(s):  
Stock Market ◽  
Market Liquidity ◽  
Market Volatility ◽  
Securities Markets ◽  
Order Imbalance ◽  
Korean Stock Market ◽  
Return Dynamics ◽  
Price Discovery Process ◽  
Post Period

In the paper, the effects of sidecar on the Korean stock market are considered. Throughout the study, we could reach the following conclusions. Firstly, the analysis of return dynamics illustrates that there are no price reversals for all sample groups but price continuations after the event. Secondly, the analysis of volatility and liquidity shows that there are some differences in the effects of sidecar on market volatility and liquidity according to the sample periods‘ however, in the post period of widening of the sidecar trigger levels, the mechanism couldn’t play any role of stabilizing the market volatility and resolving the increased order imbalance around the event. From these results, we could infer that sidecar delays the normal price discovery process and undermine the market liquidity. Also, we suggest that the increased market efficiency of Korea stock market after the financial crisis in 1997, especially deregulation in securities markets, can be a good additional factor for explaining the diffrences in the role of sidecar between sample periods.

scholarly journals The Role of World Oil Price in the Movements of the Asian Stock Market

2020 ◽  
Vol 6 (2) ◽  
pp. 7-18 ◽  
Author(s):  
Le Thi Minh Huong
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Stock Markets ◽  
Oil Prices ◽  
Cross Border ◽  
Korean Stock Market ◽  
Causality Tests ◽  
Research Period ◽  
Insight Into

This article contributed insight into the cross-border role of oil on Asia’s largest stock markets. The research conducted using VAR, GARCH_BEKK (1,1), and related tests such as stationarity, correlation, and causality tests in the analysis. The results obtained suggest that the time series of data ensure conditions for analysis. Asian stock prices are inversely related to oil prices in a correlation. At the same time, in considered stock markets, the Korean stock market and world oil prices appear to have a causal relationship with each other. Moreover, the tests of profitability and volatility in oil prices also indicate a link with the Korean stock market during the research period.

How to Assure Stable Development in Unstable Financial Environment?

2007 ◽  
pp. 4-26 ◽  
Author(s):  
M. Ershov
Keyword(s):  
Stock Market ◽  
Developed Countries ◽  
Market Liquidity ◽  
Market Mechanisms ◽  
Russian Economy ◽  
The Developed Countries ◽  
Russian Stock Market ◽  
Stable Development ◽  
Financial Environment

Growing involvement of Russian economy in international economic sphere increases the role of external risks. Financial problems which the developed countries are encountered with today result in volatility of Russian stock market, liquidity problems for banks, unstable prices. These factors in total may put longer-term prospects of economic growth in jeopardy. Monetary, foreign exchange and stock market mechanisms become the centerpiece of economic policy approaches which should provide for stable development in the shaky environment.

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