Types of variables | Variable symbol | Variable declaration |

Explained Variable |
| The value of the stock non-synchronization, equals to the transformation of value of the goodness-of-fit obtained from the regression model (3) |

Explanatory Variable |
| Media attention, equals to the natural logarithm of the number of news articles plus 1 |

| Turnover rate, equals to the average daily turnover rate within the year | |

Control Variable |
| Company size, equals to the total assets at the end of year |

| Shareholding Ratio of Institutional | |

| Shareholding ratio of the largest shareholder | |

| Debt-to-assets ratio | |

| Return On Assets | |

| Industry Dummy | |

| Year Dummy |