Elsevier
Global Finance Journal
,  volume 64 ,  pages 101057

The inhabiting influence of digital finance on stock price synchronicity

M KABIR HASSAN 1
, 
Xiaoyang Xu 2
1
 
University of New Orleans, New Orleans, LA 70148, United States of America | 
2
 
Publication type: Journal Article
Publication date: 2025-03-01
Elsevier
scimago Q1
wos Q1
SJR: 1.157
CiteScore: 9.3
Impact factor: 5.5
ISSN: 10440283, 18735665
Abstract
We examine how digital finance can influence stock price synchronicity in China for the period of 2011–2021. Results suggest that the digital finance index, coverage breadth, usage depth, and digitalization level can significantly reduce stock price synchronicity. The possible channels of this linkage are information opacity and stock price crash risk. We find that digital finance is effective in reducing stock price synchronicity only in state-owned enterprises and large firms. The results are robust and immune to reverse causality and endogeneity and have important implications for investors and policymakers.
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GOST Copy
Ayaz M. et al. The inhabiting influence of digital finance on stock price synchronicity // Global Finance Journal. 2025. Vol. 64. p. 101057.
GOST all authors (up to 50) Copy
HASSAN M. K., Xu X. The inhabiting influence of digital finance on stock price synchronicity // Global Finance Journal. 2025. Vol. 64. p. 101057.
RIS |
Cite this
RIS Copy
TY - JOUR
DO - 10.1016/j.gfj.2024.101057
UR - https://linkinghub.elsevier.com/retrieve/pii/S1044028324001297
TI - The inhabiting influence of digital finance on stock price synchronicity
T2 - Global Finance Journal
AU - HASSAN, M KABIR
AU - Xu, Xiaoyang
PY - 2025
DA - 2025/03/01
PB - Elsevier
SP - 101057
VL - 64
SN - 1044-0283
SN - 1873-5665
ER -
BibTex
Cite this
BibTex (up to 50 authors) Copy
@article{2025_Ayaz,
author = {M KABIR HASSAN and Xiaoyang Xu},
title = {The inhabiting influence of digital finance on stock price synchronicity},
journal = {Global Finance Journal},
year = {2025},
volume = {64},
publisher = {Elsevier},
month = {mar},
url = {https://linkinghub.elsevier.com/retrieve/pii/S1044028324001297},
pages = {101057},
doi = {10.1016/j.gfj.2024.101057}
}