Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/245323 
Erscheinungsjahr: 
2020
Quellenangabe: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Publisher:] Taylor & Francis [Place:] Abingdon [Year:] 2020 [Pages:] 1-20
Verlag: 
Taylor & Francis, Abingdon
Zusammenfassung: 
This study examines the relationship between ownership structure and stock price informativeness in a transitional economy characterized by an underdeveloped corporate governance system. Using a sample of 322 publicly listed companies in Vietnam covering a 10-year period from 2009 to 2018, we evaluate how national governance quality affects the impact of ownership type on stock price informativeness. We find the evidence that government-owned firms tend to have higher synchronous (lower informative) stock prices, whereas the opposite is true for the foreign-owned firms. Furthermore, the stock price informativeness of government-owned firms is higher when there is an increase in national governance quality. This study finds no significant difference in governance quality benefits between foreign-controlled and non-foreign firms. These findings suggest that the institutional channel plays an important role in determining the informativeness of the stock prices of government-controlled firms, especially in transitional economies.
Schlagwörter: 
firm-specific information
ownership structure
institutional environment
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Article

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.