Investor Recognition, Information Asymmetry and Stock Price Delay

Abstract

Abstract:

Based on cognitive levels of investors on stocks, this paper investigates the relationship between price delay and investor recognition from the prospective of information asymmetry and verifies that price delay is due to information asymmetry, which can be relieved by higher cognitive levels of investors. Our findings suggest that price discovery efficiency can be developed if the government continues to improve the regulatory system and cultivate institutional investors or intermediaries properly.

Key words: investor recognition, information asymmetry, stock price delay

Wang Chunfeng, Li Sicheng, Fang Zhenming. Investor Recognition, Information Asymmetry and Stock Price Delay[J]. , 2018, 30(11): 3-13.

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