Title :
The correlation between accounting information quality and information content of stock price—and the influence of institutional investors´ stock holdings to the correlation between them
Author :
Xie Chi ; Su Da-fei
Author_Institution :
Sch. of Bus. Adm., Hunan Univ., Changsha, China
Abstract :
Based on the theoretical basis of stock price synchronicity, the paper examines the correlation between accounting information quality and information content of stock price by using the data of the year 2008-10 from Chinese stock market. And then the author examines the influence of institutional ownership of the equity to the correlation between accounting information quality and information content of stock price, and we conclude that accounting information quality is positively correlated with information content of stock price. These findings are consistent with the feature that information content of stock price positively represents information efficiency, and the institutional investors can enhance the positive correlation.
Keywords :
accounting; stock markets; accounting information quality; information content; institutional equity ownership; institutional investor stock holdings; stock price synchronicity; Biological system modeling; Companies; Correlation; Industries; Security; Stock markets; Accounting information quality; Information content of stock price; Institutional investor; Stock price synchronicity;
Conference_Titel :
Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on
Conference_Location :
Deng Leng
Print_ISBN :
978-1-4577-0535-9
DOI :
10.1109/AIMSEC.2011.6009773
