Does board structure affect stock price overshooting informativeness measured by stochastic oscillator indicators?

被引：8

作者：

Ni, Yensen ^{[1
]}

Cheng, Yirung ^{[1
]}

Liao, Yulu ^{[2
]}

Huang, Paoyu ^{[3
]}

机构：

[1] Tamkang Univ, Dept Management Sci, New Taipei, Taiwan

[2] Ming Chuan Univ, Dept Accounting, Taipei, Taiwan

[3] Soochow Univ, Dept Int Business, 56,Sec 1,Kueiyang St, Taipei 100, Taiwan

来源：

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS | 2022年 / 27卷 / 02期

关键词：

board structure; financial performance; stochastic oscillator indicators; stock price informativeness; FIRM PERFORMANCE EVIDENCE; CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE; INSTITUTIONAL INVESTORS; MARKET VALUATION; TRADING RULES; AGENCY COSTS; SIZE; SYNCHRONICITY; PREDICTION;

D O I：

10.1002/ijfe.2273

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We explore whether our proposed proxies for stock price overshooting informativeness and the days falling into overbought (oversold) zones defined by the SOI over the total number of trading days in a year (hereafter referred to as OB-ratio [OS-ratio]) would be affected by the function of the board structure and by financial performance. Results show that firms with high OS-ratio (OB-ratio) are those with ill-functioning (well-functioning) board structures and inferior (superior) financial performance. Thus, we argue that our new proxies could be employed to gauge board structure function and even financial performance.

引用

页码：2290 / 2302

页数：13

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