Xia, Xue; Teng, Fei; Xu, Liping; Xin, Yu - In: China journal of accounting studies 12 (2024) 1, pp. 199-222
information efficiency from the perspective of stock price synchronicity. Using a sample of China's non-financial A-share firms … from 2013 to 2019, we find that random inspections significantly reduced the stock price synchronicity of inspected firms … attention, and thereby improve information efficiency. Further study finds that the effect of random inspections on stock price …