scholarly journals Stock Price Synchronicity with Analyst Coverage and Disclosure of Information in Iran Capital Market

2021 ◽  
Keyword(s):  
Capital Market ◽  
Stock Price ◽  
Stock Price Synchronicity ◽  
Analyst Coverage ◽  
Disclosure Of Information

scholarly journals Is the Social Responsibility Information Disclosed by the Companies really Valuable?—Evidence from Chinese Stock Price Synchronicity

2018 ◽  
Vol 10 (10) ◽  
pp. 3578 ◽  
Author(s):  
Jingwen Dai ◽  
Chao Lu ◽  
Yang Yang ◽  
Yanhong Zheng
Keyword(s):  
Social Responsibility ◽  
Capital Market ◽  
Stock Price ◽  
Listed Companies ◽  
Market Pricing ◽  
Stock Price Synchronicity ◽  
Pricing Efficiency ◽  
Significant Difference ◽  
The Media ◽  
The Impact

Social responsibility information disclosed by listed companies is an important way to transfer non-financial information to the stock market, which affects the level of stock price synchronicity. In order to explore whether Corporate Social Responsibility (CSR) information is valuable in improving capital market pricing efficiency, this paper conducted empirical research based on a sample of China Shanghai and Shenzhen A-share listed companies in years 2010–2015. The results showed that: (1) Overall, there is a significant positive correlation between CSR information and stock price synchronicity; (2) under different disclosure motives, there is no significant difference in the impact of CSR on stock price synchronicity; (3) Securities analysts and institutional investors can negatively regulate the positive relationship between CSR and stock price synchronicity, while the media will intensify the positive effect of CSR on stock price synchronicity. This research is of great significance in promoting the fulfillment of CSR and improving capital market pricing efficiency.

scholarly journals The effects of industry characteristics on stock price synchronicity around IFRS adoption

2019 ◽  
Vol 16 (1) ◽  
pp. 89-99
Author(s):  
Hyejeong Shin
Keyword(s):  
Capital Market ◽  
Stock Price ◽  
Earnings Quality ◽  
Industry Concentration ◽  
Specific Information ◽  
Stock Price Synchronicity ◽  
Ifrs Adoption ◽  
Incremental Effect ◽  
Adoption Effect ◽  
Korean Market

The purpose of this paper is to investigate whether a change in stock price synchronicity after IFRS adoption differs by industry characteristics. IFRS adoption was expected to improve earnings quality and comparability. Industry concentration and homogeneity are utilized as industry characteristics, which are known as determinants to earnings quality and comparability to examine IFRS adoption effect on the synchronicity. Using Korean firms listed from 2006 to 2015, the author found that stock price synchronicity decreases after IFRS adoption. The reduction in synchronicity is larger for firms in a concentrated industry. However, the researcher didn’t find that incremental effect of homogeneity on synchronicity changes around IFRS adoption. These results remain unchanged after several robustness tests. The results imply that earnings quality after IFRS adoption improves, while comparability effect is not evident in the Korean market. The paper has implications that co-movement of stock price decreases after IFRS adoption in that delivering firm-specific information to investors; in addition, the magnitude of impacts of IFRS adoption differs by the industry characteristics. The author extends prior studies about IFRS adoption effect on the capital market by providing that the effects need to be examined after considering the industry characteristics.

scholarly journals Analysis of Securities Analysts Impact on China’s Capital Market Efficiency

2016 ◽  
Vol 2 (1) ◽  
pp. 110
Author(s):  
Bing Yang ◽  
Xiaolin Li
Keyword(s):  
Market Efficiency ◽  
Capital Market ◽  
Stock Price ◽  
Allocation Of Resources ◽  
Stock Price Synchronicity ◽  
Empirical Results ◽  
Regulatory Authorities ◽  
Securities Analysts ◽  
Securities Industry ◽  
The Impact

This paper explores the impact of securities analysts on China’s capital market efficiency from the perspective of the stock price synchronicity. Empirical results show that increased securities analysts can improve capital market efficiency, but this effect is limited with economical insignificant. We recommend that the Chinese Securities’ Regulatory Authorities need to further the reform of the securities industry consulting system, thus enhance the capital market efficiency of allocation of resources.

scholarly journals XBRL Adoption and Capital Market Information Efficiency

2021 ◽  
Vol 29 (6) ◽  
pp. 0-0
Keyword(s):  
Capital Market ◽  
Stock Price ◽  
Specific Information ◽  
Market Information ◽  
Global Business ◽  
Financial Reports ◽  
Stock Price Synchronicity ◽  
Information Efficiency ◽  
Business Reporting ◽  
The Impact

As a common standard for global business reporting, eXtensible Business Reporting Language (XBRL) can make up for the deficiencies of traditional financial reports in terms of standardized disclosure and information use costs, and provide firm-specific information to report users, reduce the level of corporate stock price synchronicity, and then improve capital market information allocation efficiency. Based on the financial data of Chinese listed companies from 2005 to 2011, this paper mainly focuses on the impact of XBRL adoption on stock price synchronicity.

scholarly journals XBRL Adoption and Capital Market Information Efficiency

2021 ◽  
Vol 29 (6) ◽  
pp. 1-18
Author(s):  
Lei Ruan ◽  
Heng Liu ◽  
Sangbing Tsai
Keyword(s):  
Capital Market ◽  
Stock Price ◽  
Specific Information ◽  
Market Information ◽  
Global Business ◽  
Financial Reports ◽  
Stock Price Synchronicity ◽  
Information Efficiency ◽  
Business Reporting ◽  
The Impact

As a common standard for global business reporting, eXtensible Business Reporting Language (XBRL) can make up for the deficiencies of traditional financial reports in terms of standardized disclosure and information use costs, and provide firm-specific information to report users, reduce the level of corporate stock price synchronicity, and then improve capital market information allocation efficiency. Based on the financial data of Chinese listed companies from 2005 to 2011, this paper mainly focuses on the impact of XBRL adoption on stock price synchronicity.

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