Investor Protection And The Information Content Of Annual Earnings Announcements PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Investor Protection And The Information Content Of Annual Earnings Announcements PDF full book. Access full book title Investor Protection And The Information Content Of Annual Earnings Announcements.
Author | : Mark L. DeFond |
Publisher | : |
Total Pages | : 46 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download Investor Protection and the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
We draw on the investor protection literature to identify structural factors in the financial reporting environment that are likely to explain cross-country differences in the information content of annual earnings announcements. Using data from over 50,000 annual earnings announcements in 26 countries, we find that annual earnings announcements are more informative in countries with higher quality earnings or better enforced insider trading laws, and that annual earnings announcements are less informative in countries with more frequent interim financial reporting. We also find that, on average, earnings announcements are more informative in countries with strong investor protection institutions.
Author | : Gordon Douglas Richardson |
Publisher | : Ann Arbor, Mich. : University Microfilms International |
Total Pages | : 350 |
Release | : 1983 |
Genre | : Accounting |
ISBN | : |
Download A Theoretical and Empirical Investigation of the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
Author | : Jonathan A. Milian |
Publisher | : |
Total Pages | : |
Release | : 2019 |
Genre | : |
ISBN | : |
Download The Information Content of Guidance and Earnings Book in PDF, ePub and Kindle
I compare the information content of quarterly earnings guidance and quarterly earnings by examining their associations with current and future stock returns when the two signals are bundled at earnings announcements. At the bundled announcement, I find a significantly stronger association between announcement returns and guidance news. From the day after the bundled announcement through the next earnings announcement, both signals generate abnormal return drifts of about 200 basis points. However, the timing of the post-announcement returns differs considerably. For guidance, about 50% of the post-announcement drift occurs at the next earnings announcement. In contrast, for earnings, about 20% of the preceding drift reverses at the next earnings announcement. Investor ignorance of the drift following guidance news coupled with a fixation on post-earnings announcement drift potentially explains this surprising difference in the timing of the post-announcement returns. Overall, this study indicates that bundled quarterly earnings guidance contains more information than quarterly earnings and that investors incorrectly overweight the earnings news and underweight the guidance news during the post-announcement period until the next earnings announcement.
Author | : Andrews Oppong |
Publisher | : |
Total Pages | : 139 |
Release | : 1976 |
Genre | : Corporation reports |
ISBN | : |
Download Cross-sectional Differences in the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
Author | : Linda Smith Bamber |
Publisher | : |
Total Pages | : 452 |
Release | : 1983 |
Genre | : Investments |
ISBN | : |
Download The Information Content of Annual Earnings Releases Book in PDF, ePub and Kindle
Author | : Charles Edward Wasley |
Publisher | : |
Total Pages | : 108 |
Release | : 1987 |
Genre | : Accounting and price fluctuations |
ISBN | : |
Download Differential Information Content of Earnings Announcements Book in PDF, ePub and Kindle
Author | : Earl Kay Stice |
Publisher | : |
Total Pages | : 286 |
Release | : 1989 |
Genre | : Corporation reports |
ISBN | : |
Download The Market Reaction to 10-K and 10-Q Filings to Subsequent Wall Street Journal Earnings Announcements Book in PDF, ePub and Kindle
Author | : Piotr Korczak |
Publisher | : |
Total Pages | : 28 |
Release | : 2005 |
Genre | : |
ISBN | : |
Download Institutional Investors and the Information Content of Earnings Announcements Book in PDF, ePub and Kindle
Author | : Jae-Oh Kim |
Publisher | : |
Total Pages | : 210 |
Release | : 1987 |
Genre | : Disclosure in accounting |
ISBN | : |
Download Segmental Disclosures and Information Content of Earnings Announcements Book in PDF, ePub and Kindle
Author | : Kose John |
Publisher | : Emerald Group Publishing |
Total Pages | : 210 |
Release | : 2011-03-31 |
Genre | : Business & Economics |
ISBN | : 0857249150 |
Download International Corporate Governance Book in PDF, ePub and Kindle
Presents research on corporate governance from a number of countries across the world, including the United States, Spain, Malaysia, Israel and others. This title examines many important corporate governance mechanisms, such as board characteristics, ownership structure, legal protection of shareholders, and annual general meetings.