Press Freedom, Corporate Governance and Stock Price Informativeness

Abstract

Purpose of the study • To examine the relationship between corporate governance mechanisms (firm-level transparency, product market competition, and financial leverage) and stock price informativeness. • To examine the relationship between externally generated transparency mechanisms (analyst following and press freedom) and stock price informativeness. • To examine the interaction effects of externally generated transparency mechanisms (analyst following and press freedom) and corporate governance mechanisms (firm-level transparency, product market competition, and financial leverage) on stock price informativeness