Using a method that avoids the need to specify earnings expectations (Ball and Shivakumar 2008), we demonstrate that the period surrounding the semi-annual announcement of Australian firms’ earnings is, on average, an important source of information. Although there is substantial year-to-year...

Using a method that avoids the need to specify earnings expectations (Ball and Shivakumar 2008), we demonstrate that the period surrounding the semi-annual announcement of Australian firms’ earnings is, on average, an important source of information. Although there is substantial year-to-year...

Using several microstructure variables, this study provides an intra-day examination of aggressive trading around Australian takeover announcements. We conduct this analysis for both target and bidding firms. We examine aggressive trading (i.e. by those who initiate the trade) using the abnormal...