Does board structure affect stock price overshooting informativeness measured by stochastic oscillator indicators?

We explore whether our proposed proxies for stock price overshooting informativeness and the days falling into overbought (oversold) zones defined by the SOI over the total number of trading days in a year (hereafter referred to as OB‐ratio [OS‐ratio]) would be affected by the function of the board...

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Published in:International journal of finance and economics 2022-04, Vol.27 (2), p.2290-2302
Main Authors: Ni, Yensen, Cheng, Yirung, Liao, Yulu, Huang, Paoyu
Format: Article
Language:English
Subjects:
board structure
Boards of directors
financial performance
Proxy solicitation
stochastic oscillator indicators
stock price informativeness
Stock prices
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creator Ni, Yensen
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Liao, Yulu
Huang, Paoyu
description We explore whether our proposed proxies for stock price overshooting informativeness and the days falling into overbought (oversold) zones defined by the SOI over the total number of trading days in a year (hereafter referred to as OB‐ratio [OS‐ratio]) would be affected by the function of the board structure and by financial performance. Results show that firms with high OS‐ratio (OB‐ratio) are those with ill‐functioning (well‐functioning) board structures and inferior (superior) financial performance. Thus, we argue that our new proxies could be employed to gauge board structure function and even financial performance.
doi_str_mv 10.1002/ijfe.2273
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source EBSCOhost Business Source Ultimate; Wiley
subjects board structure
Boards of directors
financial performance
Proxy solicitation
stochastic oscillator indicators
stock price informativeness
Stock prices
title Does board structure affect stock price overshooting informativeness measured by stochastic oscillator indicators?
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