Associate Professor Kung-Cheng Ho, a researcher of the Base, has published a collaborative paper titled "Information disclosure as a means of minimizing asymmetric financial reporting: The role of market reaction" in Economic Analysis and Policy.

Abstract:

This study investigates the effect of information disclosure on financial accounting information comparability. We use a sample of Chinese A-share companies listed from 2001 to 2018 and discover that higher information disclosure quality can increase financial accounting information comparability. Our results reveal that high information disclosure ratings attract greater investor and analyst interest than does increased liquidity and that increased financial accounting information comparability is the main transmission pathway for this effect. Furthermore, the results remain robust after instrumental variables are used to solve endogeneity problems and also after robustness tests. Our findings suggest that regulatory activity to improve public firms’ information disclosure in the Chinese stock market can increase the market’s efficiency. In addition, when facing agency problems, enterprises should defer to external supervision and governance from investors.

Keywords: Information disclosure; Comparability of financial accounting information; Investorprotection; Investor attention; Stock liquidity

Link：https://doi.org/10.1016/j.eap.2023.04.022

Teacher profile

Kung-Cheng Ho, Doctor of Taiwan Yuanzhi University, master supervisor of Finance, master supervisor of financial Engineering. His research interest covers Corporate finance, credit risk management, corporate social responsibility, information asymmetry risk and cross-disciplinary research. His research interest is in the 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 and other international SSCI journals published more than 40 articles, including 1 ABS 4-star journals, 12 three-star journals and 17 SSCI first-region journals. In addition, he has preached papers in dozens of important academic conferences at home and abroad. Including China Annual Finance Conference, China Annual Financial Engineering Conference, China Annual Management Conference, CICF, American Accounting Association, Asian Finance Association, European Finance Association, Europe Financial Management Association, Financial Management Association, Taiwan Management Institute, Western Economic Association International, etc. In addition, he has reviewed manuscripts for more than 20 journals at home and abroad, including 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, etc.