Economics at your fingertips  

CEO media exposure, political connection and Chinese firms' stock price synchronicity

Xiaoqing Li, Penghua Qiao and Lin Zhao

International Review of Economics & Finance, 2019, vol. 63, issue C, 61-75

Abstract: This paper investigates the impact of CEO media exposure and CEO political connection on stock price synchronicity using weekly data of Chinese firms from 2007 to 2016. We also examine the influence of three institutional factors – the firm's ownership structure, its financial and legal environments – on the interactions among them. Our results suggest that CEO media exposure can enhance firm-specific information into stock prices, reducing stock price synchronicity, while the CEO political connection acts as a counteracting force. The institutional factors appear to have significant influence on the identified interaction among a CEO's media exposure, his political connections, and the company's stock price synchronicity.

Keywords: Chinese stock market; CEO media coverage; Political connection; Stock price synchronicity (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.iref.2018.08.006

Access Statistics for this article

International Review of Economics & Finance is currently edited by H. Beladi and C. Chen

More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Haili He ().

Page updated 2020-06-13
Handle: RePEc:eee:reveco:v:63:y:2019:i:c:p:61-75