Press freedom, externally-generated transparency, and stock price informativeness: International evidence

Jeong-Bon Kim, Hao Zhang, Liuchuang Li and Gaoliang Tian

Journal of Banking & Finance, 2014, vol. 46, issue C, 299-310

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 (search for similar items in EconPapers)
JEL-codes: G14 G18 P16 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbfina:v:46:y:2014:i:c:p:299-310

DOI: 10.1016/j.jbankfin.2014.05.023

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