Information Asymmetry and Stock Market Participation: Evidence from the Uganda Stock Exchange
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Date
2014
Journal Title
Journal ISSN
Volume Title
Publisher
Operations Research Society of Eastern Africa
Abstract
This study sought to examine the association between information asymmetry and perceived stock market participation by medium firms. A sectional survey and correlational analysis approach were employed based on a sample of 118 business tax-payers with annual chargeable incomes above Shs. 50m [USD 17,241] located within Kampala City, the heart of commercial activities in the country. Findings indicate that there is a positive and significant association between information asymmetry and perceived stock market participation by medium firms. Specifically, findings reveal that what matters is information quality.
Nonetheless, information quantity counts to a lesser extent. Paucity of African literature made it difficult to corroborate the current study findings. Nonetheless, this study contributes to the dearth of evidence on stock market participation literature in Africa by investigating for
Description
Keywords
Information asymmetry, Information quality, Information quantity
Citation
Tumwebaze, Z., Orobia, L., & Kamukama, N. (2014). InformationAsymmetry and Stock Market Participation: Evidence from the Uganda Stock Exchange. Operations Research Society of Eastern Africa, 4(2), 21-42.