What to be disclosed? Attributes of online games for the market transparency policy
What to be disclosed? Attributes of online games for the market transparency policy
This paper identifies main features of online games to be disclosed to the market for policy makers. It tests the positive relationships between information disclosure for online games and stock returns using event analysis method. Based on data collected from online game companies between 2004 to 2009 in South Korea, the paper finds positive and significant correlation between game rating information and stock reactions. Specifically, the positive reactions are clear when a company introduces casual games, and a company has development capability. However, we do not find any significant relationships between stock reactions and voluntary information releases after the game rating information released. The findings support the feasibility of introduction of mandatory information disclosure scheme for online game industry.
Information disclosure, Information spillover, Online game, Stock returns
81-92
Suh, Changwoo
c089f10f-2b3d-4a7e-a133-5abe6bf7718c
Lee, Byungtae
d6318b49-9d5b-4553-ac0b-e1acba385fb2
Lee, Habin
bab650b0-df62-40c1-bb0e-53d778ade29d
Choi, Youngseok
928c489e-7c5b-42fc-bad8-77ce717ba106
Ryu, Sunghan
d063f039-fa75-465e-8880-16cefc2f6a05
1 September 2020
Suh, Changwoo
c089f10f-2b3d-4a7e-a133-5abe6bf7718c
Lee, Byungtae
d6318b49-9d5b-4553-ac0b-e1acba385fb2
Lee, Habin
bab650b0-df62-40c1-bb0e-53d778ade29d
Choi, Youngseok
928c489e-7c5b-42fc-bad8-77ce717ba106
Ryu, Sunghan
d063f039-fa75-465e-8880-16cefc2f6a05
Suh, Changwoo, Lee, Byungtae, Lee, Habin, Choi, Youngseok and Ryu, Sunghan
(2020)
What to be disclosed? Attributes of online games for the market transparency policy.
Hofmann, Sara, Csáki, Csaba, Edelmann, Noella, Lampoltshammer, Thomas, Parycek, Peter, Melin, Ulf, Schwabe, Gerhard and Tambouris, Efthimios
(eds.)
In Electronic Participation. ePart 2020.
vol. 12220,
Springer.
.
(doi:10.1007/978-3-030-58141-1_7).
Record type:
Conference or Workshop Item
(Paper)
Abstract
This paper identifies main features of online games to be disclosed to the market for policy makers. It tests the positive relationships between information disclosure for online games and stock returns using event analysis method. Based on data collected from online game companies between 2004 to 2009 in South Korea, the paper finds positive and significant correlation between game rating information and stock reactions. Specifically, the positive reactions are clear when a company introduces casual games, and a company has development capability. However, we do not find any significant relationships between stock reactions and voluntary information releases after the game rating information released. The findings support the feasibility of introduction of mandatory information disclosure scheme for online game industry.
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More information
e-pub ahead of print date: 26 August 2020
Published date: 1 September 2020
Venue - Dates:
12th IFIP WG 8.5 International Conference on Electronic Participation, ePart 2019, held in conjunction with the 19th IFIP WG 8.5 International Conference on Electronic Government, EGOV 2020, and the International Conference for E-Democracy and Open Govern, , Linköping, Sweden, 2020-08-31 - 2020-09-02
Keywords:
Information disclosure, Information spillover, Online game, Stock returns
Identifiers
Local EPrints ID: 444011
URI: http://eprints.soton.ac.uk/id/eprint/444011
ISSN: 0302-9743
PURE UUID: 4e01f702-1c37-43cb-b243-3d9113b144a9
Catalogue record
Date deposited: 21 Sep 2020 17:50
Last modified: 16 Mar 2024 09:23
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Contributors
Author:
Changwoo Suh
Author:
Byungtae Lee
Author:
Habin Lee
Author:
Youngseok Choi
Author:
Sunghan Ryu
Editor:
Sara Hofmann
Editor:
Csaba Csáki
Editor:
Noella Edelmann
Editor:
Thomas Lampoltshammer
Editor:
Peter Parycek
Editor:
Ulf Melin
Editor:
Gerhard Schwabe
Editor:
Efthimios Tambouris
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