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Businessperson or technologist : stock market reaction to the alignment between CIO background and firm strategy

Banker, Rajiv D.; Feng, Cecilia; Pavlou, Paul A. - In: Journal of management information systems : JMIS 39 (2022) 4, pp. 1006-1036

Persistent link: https://www.econbiz.de/10013490746

Evolution in value relevance of accounting information

Barth, Mary E.; Li, Ken; McClure, Charles - 2018

We address how value relevance of accounting information evolved as the new economy developed. Prior research concludes accounting information—primarily earnings—has lost relevance. We consider more accounting amounts and find no decline in combined value relevance from 1962 to 2014. We...

Persistent link: https://www.econbiz.de/10011870279

Earnings Dispersion and the Stock Market Reaction to Aggregate Earnings News

Subasi, Musa - 2011

Using monthly and quarterly cross-sectional dispersion in firm level earnings news as a proxy for investor uncertainty about the implications of current aggregate earnings for future discount rates, I find that higher investor uncertainty leads to a lower stock market reaction to aggregate...

Persistent link: https://www.econbiz.de/10013125333

Structural Changes in Chinese Stock Market : A Review of Empirical Research

Fu, Jiajia - 2014

China's stock market has gone through major structural changes since its inception in early 1990s. In this survey article, we review the empirical literature that document these important structural changes and published in 15 leading accounting and finance journals from 1998 to 2013. In...

Persistent link: https://www.econbiz.de/10013055707

On the Myth of Size Premiums in Corporate Valuation : Some Empirical Evidence from the German Stock Market

Baetge, Jorg - 2010

It is common practice in corporate valuation with discounted cash flow models to refer to the Capital Asset Pricing Model (CAPM) to estimate the rate of return required by investors. However, based on empirical studies of the US stock market, primarily Ibbotson and Morningstar (2008) and...

Persistent link: https://www.econbiz.de/10013139488

The Impact of Financial Constraints and Liquidity on the Stock Returns of Companies Listed in Tehran Stock Exchange

Heidari Gandoman, Shaho - 2020

The purpose of this study was to investigate the The Impact of Financial Limitation and Liquidity on the Stock Returns of Companies Listed in Tehran Stock Exchange. Financial constraints and stock liquidity as independent variable and stock returns are considered as independent variable and...

Persistent link: https://www.econbiz.de/10012846392

Media Abnormal Tone, Earnings Announcements, and the Stock Market

Ardia, David - 2020

We propose a tone-based event study to reveal the aggregate abnormal tone dynamics in media articles around earnings announcements. We test whether they convey incremental information that is useful for price discovery for non financial S&P 500 firms. The positive relationship found between the...

Persistent link: https://www.econbiz.de/10012852122

Financial Reporting Frequency and Managerial Learning from Stock Price

Hillegeist, Stephen A. - 2020

We provide evidence that increased reporting frequency enhances the extent to which stock prices guide managers …. Consistent with managers making better investment decisions when stock prices provide more investment-relevant information, we … find managers at Mandatory Adopters with high levels of privately informed trading made relatively better investment …

Persistent link: https://www.econbiz.de/10012832370

Do U.S. Analysts Improve the Local Information Environment of Cross-Listed Stocks?

Amel-Zadeh, Amir - 2018

This paper examines whether and how U.S. analysts contribute to an improvement in the home market information environment of foreign firms cross-listed in the United States. Comparing return and trading volume reactions to U.S. analyst recommendation revisions to local analysts' for cross-listed...

Persistent link: https://www.econbiz.de/10012935949

Stock Market Rewards for Earnings that Beat Analyst Earnings Forecasts when the Economy is Unforecastable

Baik, Bok; Duong, Hong Kim; Farber, David B.; Shaw, … - 2021

This study examines whether and why the stock market assigns an incremental premium to the act of beating analyst earnings forecasts when the economy is unforecastable. Our study uses a novel measure of macroeconomic (macro) uncertainty from Jurado et al. (2015) that captures periods during...

Persistent link: https://www.econbiz.de/10013313877