| Summary: | From the perspective of corporate governance, stock price synchronicity can be understood as a lack of disclosure. This study investigates the effect of political connections, government majority ownership, and the opacity of financial statements on the stock price synchronicity of public companies in Indonesia. Our analysis shows that political connections and government ownership increase stock price synchronicity. Synchronicity is also positively affected by the opacity of financial statements. Furthermore, when the opacity of financial statements increases, the influence of political connections and government ownership on stock price synchronicity tends to increase. These results imply that political ties impede disclosure of firm-specific information, and poor quality of financial statement exacerbates this impediment. Keywords: stock price synchronicity; firm-specific information; political connections; government ownership; the opacity of financial statements.
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