Kan företag genom sin redovisningsinformation påverka volatiliteten i aktiekursen?
en studie av sambandet mellan informationskvalitet och risk
The purpose of this paper was to examine the potential presence of a relationship between the quality of corporate financial disclosure and the volatility in stock price in the Swedish market. This was carried out by investigating the hypothesis that an accurate annual report with high information quality results in a decrease in volatility. Previous studies have been done with this approach and in some cases the above stated hypothesis was found to be true. Thus, in the absence of a perfect efficient market the level of information quality may to some extent explain the volatility in stock price. However, the result of our study gave no evidence in support of this hypothesis. What we observed was that the volatility seemed to increase when the economy entered into a recession.