基地研究员何恭政副教授合作论文“Media coverage and stock liquidity: Evidence from China”在重要学术期刊International Review of Economics and Finance发表。IREF致力于发表国际、宏观和金融经济学等相关领域的理论和实证文章。

摘要：This study investigates the effect of media coverage on stock liquidity in the Chinese stock market. Media coverage has a significant positive effect on stock liquidity. Media coverage improves stock liquidity by improving the information environment and reducing adverse selection by investors. The positive impact of media coverage on stock liquidity weakens for firms in a more transparent information environment. The positive association is more evident in firms with more First News. Finally, the positive effect of media coverage on stock liquidity weakens when investor sentiment is high, when there are more professional investors in the stock market, and when company stocks are more attractive to investors. Overall, this study enriches relevant research on China's capital market and provides additional insights into the role of media in stock liquidity.

关键词：Media coverage; Stock liquidity; Information environment; Adverse selection; Information asymmetry

链接：https://doi.org/10.1016/j.iref.2023.07.085

作者简介

何恭政，台湾元智大学博士，广东财经大学副教授。主要研究方向为公司金融、信用风险管理、企业社会责任、信息不对称风险与跨交叉学科研究，在Asia-Pacific Journal of Accounting & Economics, Corporate   Governance: An International Review, Emerging Markets Review, Energy   Economics, International Review of Economics & Finance, International   Review of Financial Analysis, Journal of Accounting, Auditing and Finance, Journal of Business Research, Journal of Corporate Finance, Journal of   Forecasting, Pacific-Baisn Finance Journal, Review of Quantitative Finance   and Accounting等国际SSCI期刊发表40多篇，其中包含ABS商学院4星级期刊1篇，三星级期刊12篇，SSCI一区期刊17篇。此外，在国内外数十场重要学术会议进行论文宣讲，包含中国金融年会、中国金融工程年会、中国管理学年会、CICF, American Accounting Association, Asian Finance Association, European Finance Association, Europe Financial Management Association, Financial Management Association, Taiwan Management Institute, Western Economic Association International等。此外，为国内外二十多家期刊进行审稿，包含Asia Pacific Journal of Management, Corporate Governance: An International Review, Economic Modelling, Emerging Markets Finance and Trade, Financial Innovation, Investment Analysts Journal, International Journal of   Emerging Markets, International Review of Economics and Finance, Managerial   and Decision Economics等。