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

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.

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Year of publication:	2014
Authors:	Kim, Jeong-Bon ; Zhang, Hao ; Li, Liuchuang ; Tian, Gaoliang
Published in:	Journal of Banking & Finance. - Elsevier, ISSN 0378-4266. - Vol. 46.2014, C, p. 299-310
Publisher:	Elsevier
Subject:	Press freedom \| Stock price informativeness \| Market efficiency

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Type of publication:	Article
Classification:	G14 - Information and Market Efficiency; Event Studies ; G18 - Government Policy and Regulation ; P16 - Political Economy
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010907107