Study on Voluntary Information Disclosure and Stock Price Synchronicity: Evidence from Chinese Listed Companies

DOI

10.2991/msmi-15.2015.93How to use a DOI?

Keywords

Voluntary Information Disclosure, Stock Price Synchronicity, Accounting Standards.

Abstract

This paper uses Shanghai and Shenzhen 300 index constituent stocks to analyze the effect of the degree of voluntary information disclosure on Chinese stock price synchronicity from two dimensions: quantity and quality. Meanwhile, this paper discusses how the changes in accounting rules influence the relationship between voluntary information disclosure and stock price synchronicity. The result shows that voluntary information disclosure is negatively related to stock price synchronicity. Moreover, the improvement of accounting standards, on the one hand, is likely to decrease stock price synchronicity; and on the other hand, increases the negative relationship between voluntary information disclosure and stock price synchronicity.

Copyright

© 2015, 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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TY  - CONF
AU  - Ben-Zhao Zhang
AU  - Sheng-Jie Niu
PY  - 2015/08
DA  - 2015/08
TI  - Study on Voluntary Information Disclosure and Stock Price Synchronicity: Evidence from Chinese Listed Companies
BT  - Proceedings of the 2015 International Conference on Management Science and Management Innovation
PB  - Atlantis Press
SP  - 501
EP  - 507
SN  - 2352-5428
UR  - https://doi.org/10.2991/msmi-15.2015.93
DO  - 10.2991/msmi-15.2015.93
ID  - Zhang2015/08
ER  -