Industry integration and stock price synchronicity

• المؤلفون الرئيسيون: CHENG, Hao, LIM, Kian Guan, SING, Tien Foo, WANG, Long
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2017
• الموضوعات: Price Synchronicity; Market Capitalization; Property Rights Protection; Industry Structures; Information Hypothesis; Market-wide risk; Finance; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/5334; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6333/viewcontent/SSRN_id2425042.pdf
• المؤسسة: Singapore Management University

This paper provides an alternative explanation of the negative relationship between price synchronicity and proprietary right protection that are uncorrelated to the information hypothesis. Using empirical data for 40 countries, we show that stock market volatility and firm size have significant imp...