Intraday return predictability has firstly been identified in the equity markets, and we extend the analysis to the crude oil market by using high-frequency United States Oil Fund data from 2006 to 2018. We find a different intraday prediction pattern in the oil market, where only the first...

PurposeThis study aims to examine whether the disclosure tone in earnings announcements is related to a firm’s corporate social responsibility (CSR) performance.Design/methodology/approachConsidering the lower likelihood of earnings management conducted by CSR-conscious firms, and the...

In contrast to the trend of research investigating why firms decide to release earnings forecasts to pre-empt any expected change in earnings, our study investigates how firms manage their earnings forecast strategy once they have decided to release earnings forecasts. Using a sample of 350...

We examine the contemporaneous and delayed market reaction to earnings announcements in a market setting characterised by strong disclosure regulation and enforcement. We evaluate the information content of four benchmarks of earnings announcement news: earnings in the previous year, analysts’...