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dc.contributor.authorAbedifar, Pejman
dc.contributor.authorBouslah, Kais
dc.contributor.authorZheng, Yeliangzi
dc.identifier.citationAbedifar , P , Bouslah , K & Zheng , Y 2020 , ' Stock price synchronicity and price informativeness : evidence from a regulatory change in the U.S. banking industry ' , Finance Research Letters , vol. In press , 101678 .
dc.identifier.otherPURE: 270051695
dc.identifier.otherPURE UUID: b56c04c8-1afb-4003-b158-6345bc5dd6ee
dc.identifier.otherScopus: 85089917031
dc.identifier.otherORCID: /0000-0002-7648-7201/work/80257861
dc.identifier.otherORCID: /0000-0001-8407-8929/work/82179583
dc.identifier.otherWOS: 000644694200012
dc.description.abstractWhether return synchronicity is associated with higher or lower stock price informativeness is still an ongoing debate in the academic literature. This paper contributes to this debate by exploiting an exogenous shock, provided by a regulatory change introduced by the Federal Reserve in 2015, and examining its impact on return synchronicity using a sample of U.S. listed bank holding companies (BHCs) operating during the period of 2014: Q3 – 2016: Q2. Applying a regression discontinuity design, we find that return synchronicity of treated BHCs decreases after the regulatory change. This finding suggests that lower return synchronicity represents lower stock price informativeness.
dc.relation.ispartofFinance Research Lettersen
dc.rightsCopyright © 2020 Elsevier Inc. All rights reserved. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at
dc.subjectBank opacityen
dc.subjectFinancial regulationen
dc.subjectPrice informativenessen
dc.subjectStock return synchronicityen
dc.subjectHG Financeen
dc.titleStock price synchronicity and price informativeness : evidence from a regulatory change in the U.S. banking industryen
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews.School of Managementen
dc.contributor.institutionUniversity of St Andrews.Centre for Responsible Banking and Financeen
dc.contributor.institutionUniversity of St Andrews.Centre for the Study of Philanthropy & Public Gooden
dc.description.statusPeer revieweden

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