The Association Between Economic Policy Uncertainty and Firm’s Stock Price Informativeness

• Main Authors: Xin-Qian Ou Yang, 歐陽心茜
• Other Authors: Hsiang-Ping Tsai
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/b66s49

碩士 === 元智大學 === 財務金融暨會計碩士班(財務金融學程) === 107 === This research will discuss the US economic policy uncertainty may have a negative impact on stock price that implied informativeness. In existing literature also points out: earnings quality, institutional trading. They can make the information environment more transparent. In this paper, I will add these two control variables to verify the economic policy uncertainty and the disclosure of stock price information. At the same time, add the largest economy in North America－Canada. As a comparison group to observe the degree of economic and trade relations between the United States and Canada. In the empirical result I found that the EPU will negatively impact the informativeness of stock price. When the uncertainty of economic policy rises, the information environment in the financial market becomes more chaotic. Poor information environment may cause investors to make wrong investment behaviors.