Impact de la communication financière et incrémentale par Internet sur la liquidité des titres des entreprises françaises

This study tests whether Internet Financial Reporting and the supplementary of information communicated by this media are leading to a reduction in the information asymmetry and consequently to an increase in liquidity of the French firms' securities. The result shows that Internet Financial Re...

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Bibliographic Details
Published in:La revue des sciences de gestion 2010-03, Vol.45 (242), p.39-48
Main Authors: Ben Saada, Moufida, Khalfaoui, Hamdi, Vedrine, Jean-Pierre, Mamoghli, Chokri
Format: Article
Language:fre
Subjects:
Communication
Corporate finance
Cronbach's alpha
Financial reporting
Impact analysis
Information dissemination
Internet
Internet access
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Summary:This study tests whether Internet Financial Reporting and the supplementary of information communicated by this media are leading to a reduction in the information asymmetry and consequently to an increase in liquidity of the French firms' securities. The result shows that Internet Financial Reporting decreases bid-ask spreads, a proxy of information asymmetry, and increases the liquidity. However, incremental information on line does not impact the liquidity. [PUB ABSTRACT]
ISSN:1160-7742
1760-6136
DOI:10.1051/larsg/2010026