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Does board secretary’s compensation ranking influence stock price synchronicity?

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  • Li, Ni
  • Chen, Minying
  • Wu, Jinlong
  • Zhao, Tuanjie
  • Sun, Wenzhang

Abstract

Considering the unique role of board secretaries on corporate information disclosure in China, this study examines the influence of their compensation ranking on stock price synchronicity of listed companies. According to our findings, increasing the compensation ranking of board secretaries can reduce stock price synchronicity. The effect of high-ranking board secretaries on reducing synchronicity is significant in companies with poor information disclosure and governance. Board secretaries with higher compensation rankings reduce synchronicity through stock liquidity and media coverage. Economic consequences analysis suggests that better compensation rankings of board secretaries can reduce corporate financing constraints. Overall, the status of information provider significantly affects stock pricing efficiency.

Suggested Citation

  • Li, Ni & Chen, Minying & Wu, Jinlong & Zhao, Tuanjie & Sun, Wenzhang, 2026. "Does board secretary’s compensation ranking influence stock price synchronicity?," Economic Analysis and Policy, Elsevier, vol. 92(C), pages 919-934.
    • Handle: RePEc:eee:ecanpo:v:92:y:2026:i:c:p:919-934
    DOI: 10.1016/j.eap.2026.06.048
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