Press freedom,externally-generated transparency,and stock price informativeness: International evidence |
| |
| Institution: | 1. University of Leeds, UK;2. University of Strathclyde, UK;3. Xi''an JiaoTong University, China;4. Fudan University, China;1. Southwestern University of Finance and Economics, PR China;2. Shanghai International Studies University, PR China;3. Stockholm School of Economics, Sweden |
| |
| Abstract: | This paper examines the impact of press freedom on stock price informativeness in a sample of firms from 50 countries. We find a significant relation between more press freedom and lower stock price synchronicity. Our results suggest that the freedom of the press can enhance the information environment of stock markets. |
| |
| Keywords: | Press freedom Stock price informativeness Market efficiency |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
