Proceedings of the 5th Annual International Conference on Management, Economics and Social Development (ICMESD 2019)

A Blessing or a Curse? The Impact of Financial Liberalization on Stock Price Informativeness

Authors
Qing-Qing Zheng, Li-Yan Han, Li-Bo Yin
Corresponding Author
Li-Yan Han
Available Online July 2019.
DOI
10.2991/icmesd-19.2019.41How to use a DOI?
Keywords
Financial liberalization, Foreign institutional investors, Informativeness.
Abstract

This paper assesses the extent to which an emerging economy can benefit from financial liberalization. We exploit the openness of capital markets to foreign institutional investors in China as a natural experiment generating exogenous shocks to China’s securities markets. We provide evidence that foreign institutional investors’ shareholdings contribute to stock price informativeness. In contrast, domestic institutional investors have the opposite effect.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 5th Annual International Conference on Management, Economics and Social Development (ICMESD 2019)
Series
Advances in Economics, Business and Management Research
Publication Date
July 2019
ISBN
10.2991/icmesd-19.2019.41
ISSN
2352-5428
DOI
10.2991/icmesd-19.2019.41How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Qing-Qing Zheng
AU  - Li-Yan Han
AU  - Li-Bo Yin
PY  - 2019/07
DA  - 2019/07
TI  - A Blessing or a Curse? The Impact of Financial Liberalization on Stock Price Informativeness
BT  - Proceedings of the 5th Annual International Conference on Management, Economics and Social Development (ICMESD 2019)
PB  - Atlantis Press
SP  - 280
EP  - 283
SN  - 2352-5428
UR  - https://doi.org/10.2991/icmesd-19.2019.41
DO  - 10.2991/icmesd-19.2019.41
ID  - Zheng2019/07
ER  -