Is Stock Price Synchronicity a Measure of Noise or Informativeness
Evidence from Audit Pricing Model
Financial analysts and government regulatory agencies attach great importance to stock markets, which function as a resource-allocation mechanism by incorporating market-wide, industrial-wide and firm-level information into stock prices. The recent melt-down of global financial markets shows that stock markets are highly susceptible to market-wide news. Stock prices go up (down) when good (bad) news hits the market. As a consequence, individual stocks move synchronously or un-synchronously with the stock market as a whole. Stock price synchronicity (SYN) has been a very important topic for a number of prior studies (e.g. Roll, 1988; Morck et…
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Produktdetails
- ISBN: 978-3-659-45481-3
- EAN: 9783659454813
- Produktnummer: 37439732
- Verlag: LAP Lambert Academic Publishing
- Sprache: Englisch
- Erscheinungsjahr: 2015
- Seitenangabe: 72 S.
- Masse: H22.0 cm x B15.0 cm x D0.4 cm 125 g
- Abbildungen: Paperback
- Gewicht: 125
Über den Autor
Jim Wang got his PhD from the School of Accounting and Finance at the Hong Kong Polytechnic University. Currently, Jim is teaching accounting courses at Tung Wah College. He got the Staff Development Research Grant on Forensic Accounting Education in Hong Kong and Mainland China (project reference: UGC/FDS17/B02/14).
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