Bid Asks Around Earnings Announcements Evidence From The Nasdaq National Market System PDF Download
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Author | : DOUGLAS J. SKINNER |
Publisher | : |
Total Pages | : 40 |
Release | : 1993 |
Genre | : |
ISBN | : |
Download BID-ASKS AROUND EARNINGS ANNOUNCEMENTS: EVIDENCE FROM THE NASDAQ NATIONAL MARKET SYSTEM Book in PDF, ePub and Kindle
Author | : Douglas J. Skinner |
Publisher | : |
Total Pages | : 42 |
Release | : 1992 |
Genre | : |
ISBN | : |
Download Bid-ask Spreads Around Earnings Announcements Book in PDF, ePub and Kindle
Author | : Torben Voetmann |
Publisher | : |
Total Pages | : 22 |
Release | : 2000 |
Genre | : |
ISBN | : 9788790705404 |
Download Changes in the Bid-ask Components Around Earnings Announcements Book in PDF, ePub and Kindle
Author | : Faten Lakhal |
Publisher | : |
Total Pages | : 31 |
Release | : 2005 |
Genre | : |
ISBN | : |
Download Stock Market Liquidity and Information Asymmetry Around Voluntary Earnings Announcements Book in PDF, ePub and Kindle
This paper studies market liquidity and stock prices components of information asymmetry around non-mandated earnings announcements by focusing on effective bid-ask spreads and trading volumes. Using event study methodology for 309 voluntary earnings announcements from 1998 to 2001, we found that voluntary earnings disclosures exhibit significant stock market reactions around news releases. We also noticed a significant decrease in effective spreads and an increase in trading volumes when good and bad news are released. Moreover, investors react more aggressively to bad news announcements suggesting that these news are more credible. Panel-data regression analyses were also used to examine both categories of voluntary earnings announcements: earning forecasts and quarterly earning announcements separately. They show that quarterly announcements enhance market liquidity by reducing bid-ask spreads and increasing trading volumes in the announcement window. However, earnings forecasts exacerbate information asymmetry before and after the announcement date. This result suggests that earning forecasts are subject to earning manipulation and less credible, then for the market.
Author | : Charles M. C. Lee |
Publisher | : |
Total Pages | : 48 |
Release | : 1992 |
Genre | : Securities |
ISBN | : |
Download Spreads, Depths, and the Impact of Earnings Information Book in PDF, ePub and Kindle
Author | : Merritt B. Fox |
Publisher | : Columbia University Press |
Total Pages | : 612 |
Release | : 2019-01-08 |
Genre | : Business & Economics |
ISBN | : 023154393X |
Download The New Stock Market Book in PDF, ePub and Kindle
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Author | : Patricia M. Dechow |
Publisher | : Research Foundation of the Institute of Chartered Financial Analysts |
Total Pages | : 152 |
Release | : 2004-01-01 |
Genre | : Corporate profits |
ISBN | : 9780943205687 |
Download Earnings Quality Book in PDF, ePub and Kindle
Author | : K. R. Subramanyam |
Publisher | : |
Total Pages | : 314 |
Release | : 1993 |
Genre | : |
ISBN | : |
Download Stochastic Precision and Market Reactions to Earnings Announcements Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 420 |
Release | : 1995 |
Genre | : Econometrics |
ISBN | : |
Download Journal of Econometrics Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 854 |
Release | : 1996 |
Genre | : Corporations |
ISBN | : |
Download Journal of Corporate Finance Book in PDF, ePub and Kindle