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Executive marketing background, information transparency and stock price volatility

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  • Zou, Xu
  • Huang, Zhifan

Abstract

This study focuses on the relationship between top managers with a marketing background and stock price volatility, conducting an in-depth exploration using a sample of companies listed on the ChiNext board of the A-share market from 2013 to 2023. The research finds that the greater the number of top managers with a marketing background, the lower the company's stock price volatility. Information transparency partially mediates the relationship between top managers' marketing background and stock price volatility. Managers with a marketing background emphasize information disclosure, enhance transparency, and thereby reduce stock price volatility. The impact of top managers' marketing background on stock price volatility exhibits firm-size heterogeneity, with a more pronounced inhibitory effect in small firms, providing references for configuring top management teams in firms of different sizes.

Suggested Citation

  • Zou, Xu & Huang, Zhifan, 2025. "Executive marketing background, information transparency and stock price volatility," Finance Research Letters, Elsevier, vol. 86(PE).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pe:s1544612325020239
    DOI: 10.1016/j.frl.2025.108769
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