ArticleHeliyon2024
Moderating effects of technological innovation and information environment on market response to information disclosure reforms.
Article in Heliyon, 2024. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Not yet cited in PubMed.
What it found
Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.
The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.
Who cites it
0 citing papers in PubMed.
No citing paper in PubMed yet.
Corrections and comments
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Authors and funding
2 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
Constructing an institutional environment centered around information disclosure (ID) is the direction of development for capital market reforms. This paper innovatively explores the stock market response (MR) to companies' enhanced ID due to institutional changes. Using data from Chinese companies listed on the Sci-Tech Innovation Board (STIB) from 2019 to 2023, the study employs Information Asymmetry Theory and Stakeholder Theory to analyze the relationship between ID levels and MR. The empirical analysis reveals a "U-shaped" relationship between ID level and MR. Furthermore, by introducing variables related to the information environment (IE) and technological innovation (TI), the study finds that their signaling effects vary among different audiences. High transparency in the IE and strong TI capabilities significantly mitigate the negative MR effects caused by revealing deficiencies during the enhancement of ID. This paper provides theoretical support and empirical evidence for capital market reform, improved financial regulation, enhanced credit quality of listed companies, and investor protection.
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.