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Frontiers in Business Economics and Management
Article . 2024 . Peer-reviewed
License: CC BY NC
Data sources: Crossref
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Confucianism And Stock Price Synchronization

Authors: Bin Zhang;

Confucianism And Stock Price Synchronization

Abstract

This paper empirically examines the effect of Confucian culture on stock price synchronization by selecting data from listed companies from 2008-2021. The results show that Confucian culture can significantly reduce the level of stock price synchronization and does so mainly by suppressing managers' self-interested motives and improving the quality of corporate information. Heterogeneity analysis reveals that the inhibitory effect of Confucian culture on stock price synchronization is more pronounced in firms that have not been exposed to foreign cultural shocks and have less analyst attention. The findings provide empirical evidence to support the governance function of Confucian culture and have important practical implications for improving capital market pricing efficiency.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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