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Post offering earnings performance of firms that issue seasoned equity : the role of growth opportunities
Lee, Hei Wei - In: The quarterly review of economics and finance : journal … 37 (1997) 1, pp. 97-114
Persistent link: https://www.econbiz.de/10001217279
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The Market’s Reaction to Unexpected Earnings Thresholds
Herrmann, Don - 2010
earnings thresholds – reporting a profit, reporting an increase in earnings, and meeting analysts' forecasts. In contrast to … prior research, the research design identifies the incremental market reaction to the profit and earnings increase …-related incentives to manage earnings at the profit and earnings increase thresholds suggests either that managers have other incentives …
Persistent link: https://www.econbiz.de/10013139531
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On the Anomalous Stock Price Response to Management Earnings Forecasts
Das, Somnath - 2012
This paper examines stock price formation subsequent to management forecasts of quarterly earnings. In the post-announcement period, we find a significant upward price drift for both good news forecasts and bad news forecasts. Combined with the asymmetry in the initial market response, the...
Persistent link: https://www.econbiz.de/10013105748
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Trades by Insiders and the Informativeness of Earnings Announcements
Crego, Julio A. - 2020
Do insiders trade on private information about earnings? We address this question exploiting the discontinuity in the term structure of option prices around the announcement date, to obtain a daily and forward-looking measure of the informativeness of the next earnings announcement. This measure...
Persistent link: https://www.econbiz.de/10012838687
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The Market’s Reaction to Unexpected Earnings Thresholds
Herrmann, Don - 2010
earnings thresholds – reporting a profit, reporting an increase in earnings, and meeting analysts' forecasts. In contrast to … prior research, the research design identifies the incremental market reaction to the profit and earnings increase …-related incentives to manage earnings at the profit and earnings increase thresholds suggests either that managers have other incentives …
Persistent link: https://www.econbiz.de/10013144414
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Earnings Announcements in China : Overnight-Intraday Disparity
Liu, Junhao; Hope, Ole-Kristian; Hu, Danqi - 2023
Based on a unique arrangement of trading and disclosure times around earnings announcements in the Chinese stock market, we provide evidence of a striking overnight-intraday disparity in terms of the reaction to earnings news. Specifically, we find that the overnight period exhibits a strong and...
Persistent link: https://www.econbiz.de/10014348722
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Winning Is Not Enough : Changing Landscapes of Earnings Surprises and the Market Reaction
Heater, John C.; Liu, Ye; Tan, Qin; Zhang, Frank - 2022
In this paper, we examine the time-series properties of the earnings-return relation and explore the implications of its changing landscape for the literature. We document strikingly opposite time-series patterns of earnings surprises and associated market reactions. Earnings surprises have...
Persistent link: https://www.econbiz.de/10013405946
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Earnings Seasonality, Management Earnings Forecasts and Stock Returns
Jiang, Danling; Song, Pan; Zhu, Hongquan - 2023
Previous research finds that historical seasonal earnings rank negatively predicts stock returns surrounding earnings announcements (EAs) in China’s A-share markets. We examine whether management earnings forecasts (MEFs) help reduce the stock return seasonality associated with earnings...
Persistent link: https://www.econbiz.de/10014255146
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The Effects of Accounting Restatements on Firm Growth
Albring, Susan - 2013
Do restatements result in lower firm growth? One argument in support of this contention is that accounting restatements hurt contracting relations between the firm and outside parties such as a firm's customers and suppliers, negatively impacting firm cash flows. The negative impact on cash flow...
Persistent link: https://www.econbiz.de/10013090164
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The Market Reaction to Earnings Announcements in Public Family Firms
Vieira, Elisabete Simões - 2017
This paper investigates the market reaction to earnings announcements in public family firms and whether this type of announcements affect firm's return, liquidity and cost of capital, providing also evidence on whether family businesses differ from non-family ones in what concerns the earnings...
Persistent link: https://www.econbiz.de/10012954292