Foreign ownership and stock price synchronicity: evidence from Turkey
نویسندگان
چکیده
منابع مشابه
Institutional Development and Stock Price Synchronicity: Evidence from China
This paper investigates how and to what extent institutional development influences and permits firm-specific information to be incorporated into share prices, as measured by stock price synchronicity. Tracing the experience of China, an economy undergoing dramatic changes in the last 20 years with rich variation in experiences across provinces, this paper reveals that stock price synchronicity...
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This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data on 37 countries from 1996-2007, we find that bank stocks are more aligned with the whole market (1) during the financial crisis; (2) in countries that have more credit provided by banks; (3) in countries that do not have explicit depository insurance; and (4) in countries that h...
متن کاملInvestigating the Effect of Business Strategy and Stock Price Synchronicity on Stock Price Crash Risk
Stock price crash risk has a significant impact on investors, creditors, managers, and shareholders, so the prediction of this phenomenon is a very important issue in investment and risk management decisions. This research investigates the effect of business strategy and stock price synchronicity on stock price crash risk. Following Bentley et al.[2], composite strategy score has been used to ...
متن کاملDo Qualified Foreign Institutional Investors Improve Information Efficiency: a Test of Stock Price Synchronicity in China?
Stock price synchronicity at a country level has been the subject of many previous studies, but for most investors it is more relevant at a firm level. Working from the perspective of a foreign investor stock price synchronicity is analyzed at the firm-level in the hot Chinese stock market. The impact of foreign ownership, institutional ownership, the concentration of large shareholders, and au...
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This paper examines how and why stock price synchronicity responds to accounting restatements in China. Using a matching sample, we document that accounting restatements drive down price synchronicity. A set of regression analyses show that the declined price synchronicity reflects the increased firm-level noise/uncertainty rather than firm-level information. Further investigations with PIN and...
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ژورنال
عنوان ژورنال: Pressacademia
سال: 2016
ISSN: 2146-7943
DOI: 10.17261/pressacademia.2016118627