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:: year 14, Issue 54 (2022) ::
fa 2022, 14(54): 69-84 Back to browse issues page
The difference between the Stock price synchronicity and the Idiosyncratic Risk in relation to the information environment of Iranian capital market firms
Mohammad Yaghoubi1 , Vahid Seyfi * 1, Mahdi Sadeghi shahdani1
1- Department of Economy, Imam Sadiq University, Tehran, Iran.
Abstract:   (2893 Views)
The present study, while stating the difference between the Stock price synchronicity and the Idiosyncratic Risk, examines the relationship between these two concepts with the firm's information environment. The research period is from 2013 to 2019. The statistical population of the study was the listed companies on the Tehran Stock Exchange that finally 131 eligible firms were selected in this study. In order to measure the Stock price synchronicity, the criterion of the regression coefficient of stock return on market return has been used, and to measure the Idiosyncratic Risk, the standard deviation of the same regression error has been used. Also, size, liquidity, leverage and Return on equity (ROE) have been used as variables of the firm's information environment. The results indicate a positive and significant relationship between both the Stock price synchronicity and the Idiosyncratic Risk with most of the criteria representing information environment that has been studied in this study. In other words, improving the information environment and increasing the information efficiency of firms leads to an increase in the Stock price synchronicity and the Idiosyncratic Risk.
Article number: 5
Keywords: Stock Price Synchronicity, Idiosyncratic Risk, Information Environment, Information Efficiency
Full-Text [PDF 541 kb]   (104 Downloads)    
Type of Study: Research | Subject: Special
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Yaghoubi M, Seyfi V, Sadeghi shahdani M. The difference between the Stock price synchronicity and the Idiosyncratic Risk in relation to the information environment of Iranian capital market firms. fa 2022; 14 (54) : 5
URL: http://qfaj.mobarakeh.iau.ir/article-1-2440-en.html
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year 14, Issue 54 (2022) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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