Corporate strategic deviance and stock price volatility: from the perspective of information asymmetry

Yi Chi, Yang Yang, Dong Lu and Yuejiao Bao

Applied Economics Letters, 2023, vol. 30, issue 14, 1973-1977

Abstract: This study investigates the effect of corporate strategic deviance on stock price volatility based on the perspective of information asymmetry. We find that corporate strategy deviance significantly increases stock price volatility, and information asymmetry is the leading cause of this increasing effect. Furthermore, analyst coverage has played a role in alleviating information asymmetry which reduces the positive effect of strategic deviance on stock price volatility.

Date: 2023
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DOI: 10.1080/13504851.2022.2094873

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