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

fYear

2011

fDate

8-10 Aug. 2011

Firstpage

5870

Lastpage

5873

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;

fLanguage

English

Publisher

ieee

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

Type

conf

DOI

10.1109/AIMSEC.2011.6009773

Filename

6009773