Journal of Banking & Finance Vol. 46 2014

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

Jeong‐Bon Kim¹; Hao Zhang¹; Liuchuang Li²; Gaoliang Tian²

¹ City University of Hong Kong · ² Northwestern Polytechnical University

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.

DOI

10.1016/j.jbankfin.2014.05.023

Volume

46

Pages

299-310

Language

en

Sources

bibtex:phds-export.bib openalex crossref

Cite

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