Corporate governance and the information environment:evidence from Chinese stock markets

Hass, Lars Helge and Vergauwe, Skralan and Zhang, Qiyu (2014) Corporate governance and the information environment:evidence from Chinese stock markets. International Review of Financial Analysis, 36. pp. 106-119. ISSN 1057-5219

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Abstract

This article explores the relationship between corporate governance and the information environment in Chinese stock markets. We construct a parsimonious governance measure for public firms using a 2003 through 2011 sample period. We use four indicators to proxy for the information environment: analyst following, analyst forecast accuracy, analyst forecast dispersion, and price timeliness. We find that better governed firms tend to be associated with larger analyst followings and more informative forecasts. We also find that better governed firms tend to improve on the timeliness of bad news relative to good news.

Item Type:
Journal Article
Journal or Publication Title:
International Review of Financial Analysis
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/2000/2002
Subjects:
ID Code:
70723
Deposited By:
Deposited On:
10 Sep 2014 12:33
Refereed?:
Yes
Published?:
Published
Last Modified:
07 Oct 2020 03:03