報告題目：Public Information Content of Stock Prices in China

報告所屬學科：應用經濟學

報告人：Jianxin Wang（悉尼科技大學）

報告時間：2020年12月14日 19:00

報告地點：騰訊會議 會議 ID：441 718 800

報告摘要：

Reliable public information is the hallmark and cornerstone of a well-functioning financial market. This study evaluates stock market development in China by estimating the public information content of its stock prices. We show that overnight information is a good proxy for price informativeness of public information. It declined in China during 1996-2014 but increased in its neighbouring markets. The level of public information embedded in stock prices varies with market conditions and corporate governance variables. State ownership and ownership concentration have negative but declining impact, while foreign ownership and high-quality auditors had an increasingly positive impact.

報告人簡介：

Jianxin Wang received his B.sc. from Tsinghua University in Beijing, China, and his Ph.D. in economics from Northwestern University in the United States. He worked as a financial analyst in Chicago before joining the University of New South Wales. He has held visiting positions in Yonsei University, South Korea, the Capital Market and Financial Institution Supervisory Agency of Indonesia, Beijing and Nankai Universities in China, and the Central Economic-Mathematical Institute, Academy of Sciences, USSR. He joined UTS in April 2011.