This paper posits that the release timing of an annual report has no systematic relation with earnings news in Taiwan. Since the board of directors has the ultimate responsibility for the implementation of corporate governance, we argue that board characteristics are important determinants for...

Behavioral theories predict that investors underreact to earnings announcements stemming from the conservatism bias and overreact to a string of earnings news due to representativeness heuristic. This paper thus examines trading strategies of buying past high EPS growth stocks and selling past...

This paper posits that the release timing of an annual report has no systematic relation with earnings news in Taiwan. Since the board of directors has the ultimate responsibility for the implementation of corporate governance, we argue that board characteristics are important determinants for...