Abstract To investigate the influence of the spatiotemporal compression of the opening of high-speed railway son the pricing efficiency of China’s capital market based on the stock price synchronicity perspective, this study carries out empirical research according to A shares of Shanghai and Shenzhen stock exchange of China. The result shows that more information about the firm level is known by investors, which makes the stock price incorporate more characteristic information of the firm level after the opening of high-speed railways. Thus lower stock price synchronicity is showing and the efficiency of capital market pricing has been improved. Investor investigations, media coverage and followed analysts are the paths of high-speed railways affecting the efficiency of capital market pricing according to analysis of mediator variables.
GUO Zhaorui,ZHANG Tianshu. Research on the Impact of High-Speed Railway Opening on the Pricing Efficiency of Capital Market[J]. Chinese Journal of Management, 2021, 18(4): 614-.
