Economics at your fingertips  

Regional institutions, financial analysts and stock price informativeness

Rong Ding, Wenxuan Hou, Jing-Ming Kuo and Edward Lee

Regional Studies, 2018, vol. 52, issue 9, 1261-1270

Abstract: This paper investigates the impact of legal institutions on the external governance role of equity analysts in enhancing the corporate information environment. By analysing a sample of Chinese listed firms between 2003 and 2013, we find that analyst coverage is positively related to stock price informativeness. Firms located in provinces where legal institutions are stronger, as indicated by better development of market intermediaries and lower levies and charges on firms, are less likely to withhold value-relevant information. Financial analysts play a more effective role in improving stock informativeness in provinces with less developed legal institutions.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from

DOI: 10.1080/00343404.2017.1372567

Access Statistics for this article

Regional Studies is currently edited by Ivan Turok

More articles in Regional Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

Page updated 2023-11-11
Handle: RePEc:taf:regstd:v:52:y:2018:i:9:p:1261-1270