Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/75780
DC Field | Value | Language |
---|---|---|
dc.contributor | School of Accounting and Finance | en_US |
dc.creator | Chan, KN | en_US |
dc.creator | Li, F | en_US |
dc.creator | Lin, JC | en_US |
dc.creator | Lin, TC | en_US |
dc.date.accessioned | 2018-05-10T02:54:36Z | - |
dc.date.available | 2018-05-10T02:54:36Z | - |
dc.identifier.issn | 0929-1199 | en_US |
dc.identifier.issn | 0929-1199 | - |
dc.identifier.uri | http://hdl.handle.net/10397/75780 | - |
dc.language.iso | en | en_US |
dc.publisher | Elsevier | en_US |
dc.rights | © 2017 Elsevier B.V. All rights reserved. | en_US |
dc.rights | © 2017. This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/ | en_US |
dc.rights | The following publication Chan, K., Li, F., Lin, J. C., & Lin, T. C. (2017). What do stock price levels tell us about the firms?. Journal of corporate finance, 46, 34-50 is available at https://doi.org/10.1016/j.jcorpfin.2017.06.013. | en_US |
dc.subject | Stock price level | en_US |
dc.subject | Price informativeness | en_US |
dc.subject | O/S | en_US |
dc.subject | Future earnings | en_US |
dc.subject | Stock splits | en_US |
dc.title | What do stock price levels tell us about the firms? | en_US |
dc.type | Journal/Magazine Article | en_US |
dc.identifier.spage | 34 | en_US |
dc.identifier.epage | 50 | en_US |
dc.identifier.volume | 46 | en_US |
dc.identifier.doi | 10.1016/j.jcorpfin.2017.06.013 | en_US |
dcterms.abstract | We hypothesize that high stock price levels impede informed trading on the stocks and reduce price informativeness. This is because uninformed trading is needed to facilitate informed trading, and high stock prices may impose budget constraints on uninformed investors. Indeed, we find, for high-price firms, (i) options to stock trading volume (O/S), an informed trading measure in options market, is higher, (ii) price informativeness about future earnings is lower, and (iii) investment sensitivity to price is lower. We also find these patterns reverse after stock splits, suggesting that firms can use splits to improve informed trading and enhance price informativeness. | en_US |
dcterms.accessRights | open access | en_US |
dcterms.bibliographicCitation | Journal of corporate finance, Oct. 2017, v. 46, p. 34-50 | en_US |
dcterms.isPartOf | Journal of corporate finance | en_US |
dcterms.issued | 2017-10 | - |
dc.identifier.isi | WOS:000413284700003 | - |
dc.identifier.eissn | 1872-6313 | en_US |
dc.identifier.eissn | 1872-6313 | - |
dc.description.validate | 201805 bcrc | en_US |
dc.description.oa | Accepted Manuscript | en_US |
dc.identifier.FolderNumber | AF-0144 | - |
dc.description.fundingSource | Others | en_US |
dc.description.fundingText | National Science Council, Taiwan (NSC 101-2410-H-004-085). | en_US |
dc.description.pubStatus | Published | en_US |
dc.identifier.OPUS | 6757181 | - |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Lin_What_Do_Stock.pdf | Pre-Published version | 950.3 kB | Adobe PDF | View/Open |
Page views
134
Last Week
1
1
Last month
Citations as of Apr 21, 2024
Downloads
45
Citations as of Apr 21, 2024
SCOPUSTM
Citations
10
Last Week
0
0
Last month
Citations as of Apr 19, 2024
WEB OF SCIENCETM
Citations
11
Last Week
0
0
Last month
Citations as of Apr 25, 2024
Google ScholarTM
Check
Altmetric
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.