Barinov, Alexander; Park, Shawn Saeyeul; Yildizhan, Celim - Volkswirtschaftliche Fakultät, … - 2014
The paper shows that the post earnings announcement drift is stronger for conglomerates, despite conglomerates being … complexity. We also find that the post earnings announcement drift is stronger for new conglomerates than it is for existing … conglomerates and that investors are most confused about complicated firms that expand from within rather than firms that diversify …
