Have East Asian companies improved their information environments since the crisis?
Nowland, John E. (2007) Have East Asian companies improved their information environments since the crisis? In 18th Asian Finance Association Conference, 4-7 July 2007, Hong Kong. (Unpublished)
Since the Asian crisis, East Asian companies have been encouraged to improve their disclosure practices, thereby increasing the availability of operating, financial and corporate governance information to market participants. This research examines whether East Asian companies have improved their information environments since both the crisis and the introduction of corporate governance codes. The results show that the introduction of codes has been associated with a shift in analyst following towards smaller companies and an overall reduction in analyst forecast error. This indicates an overall improvement and a levelling out of information environments across companies. These results are also reflected in the weakened relationships between analyst following, analyst forecast error and market value.
Impact and interest:
Citation countsare sourced monthly fromand citation databases.
Citations counts from theindexing service can be viewed at the linked Google Scholar™ search.
Full-text downloadsdisplays the total number of times this work’s files (e.g., a PDF) have been downloaded from QUT ePrints as well as the number of downloads in the previous 365 days. The count includes downloads for all files if a work has more than one.
|Item Type:||Conference Paper|
|Keywords:||Analyst following, analyst forecast accuracy, East Asia, information environment|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Finance (150201)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
|Copyright Owner:||Copyright 2007 (please consult author)|
|Deposited On:||06 Mar 2007|
|Last Modified:||29 Feb 2012 23:36|
Repository Staff Only: item control page