Press freedom, externally-generated transparency, and stock price informativeness : International evidence

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

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Original languageEnglish
Pages (from-to)299-310
Journal / PublicationJournal of Banking and Finance
Issue number1
Online published4 Jun 2014
Publication statusPublished - Sep 2014


This paper examines the impact of press freedom on stock price informativeness in a sample of firms from 50 countries. We find a significant relation between more press freedom and lower stock price synchronicity. Our results suggest that the freedom of the press can enhance the information environment of stock markets. © 2014 Elsevier B.V.

Research Area(s)

  • Market efficiency, Press freedom, Stock price informativeness