The Association between Accounting Information Disclosure and Stock Price
Hwei Cheng Wang
Alabama A&M University
National Taipei University
Global Journal of Business Research,v. 2(2) p. 1-10
This study examines whether higher information disclosure firms have higher associations with accounting returns (EPS) and stock prices based on the Ohlson (1995) model. Survey results on information disclosure and transparency of Taiwan firms in 2004 were obtained from the Taiwan SEC. The results indicate that firms with high levels of information disclosure have a higher association between accounting earning and stock market price than firms with low levels of information disclosure. In addition, the results provide evidence that there is a positively significant relationship between book value and stock price as well as between earnings per share and stock price.
JEL Classification: G30, M41, M48, D82Accepted Paper Series
Date posted: February 19, 2010
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