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Attention to Dividends, Inattention to Earnings?
Ham, Charles (Chad); Kaplan, Zachary; Utke, Steven - 2023
. Consistent with dividends substituting for earnings information, we find that dividend paying firms have 11%–15% lower earnings … response coefficients (ERCs) than non-payers. We find more substitution when the dividend provides a stronger signal of … permanent earnings: when the firm is less likely to cut the dividend, when the firm is likely to fund the dividend out of …
Persistent link: https://www.econbiz.de/10014265402
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Unerwartete Gewinn- und Dividendeninformationen am deutschen Aktienmarkt : eine empirische Analyse
Werner, Mathias - 1999
Persistent link: https://www.econbiz.de/10000684108
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Local investor attention and post-earnings announcement drift
Wang, Bin; Choi, Wonseok; Siraj, Ibrahim - In: Review of quantitative finance and accounting 51 (2018) 1, pp. 219-252
Persistent link: https://www.econbiz.de/10012037089
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Local bias in Google Search and the market response around earnings announcements
Chi, Sabrina S.; Shanthikumar, Devin - In: The accounting review : a publication of the American … 92 (2017) 4, pp. 115-143
Persistent link: https://www.econbiz.de/10011741584
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Do Acquirers Disclose Good News or Withhold Bad News When They Finance Their Acquisitions Using Equity?
Lennox, Clive S. - 2011
Companies that use their own stock to finance acquisitions have incentives to increase their market values prior to the acquisition. This study examines whether such companies mislead investors by issuing overly optimistic forecasts of future earnings (“deception by commission”) or by...
Persistent link: https://www.econbiz.de/10013121115
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Individual Investors’ Attention to Accounting Information : Evidence from Online Financial Communities
Lerman, Alina - 2020
Online financial communities provide a unique opportunity to directly examine individual investors' attention to accounting information on a large scale and in great detail. I analyze accounting-related content in large samples of Yahoo! message board posts and StockTwits and find investors pay...
Persistent link: https://www.econbiz.de/10012838289
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The Effect of Investor Inattention on Voluntary Disclosure
Basu, Riddha - 2020
We employ a quasi-natural experiment to examine the effect of investor inattention on firms' voluntary disclosure. While prior research focuses on when managers make mandatory disclosures within a given quarter, we examine whether investor inattention influences what managers voluntarily...
Persistent link: https://www.econbiz.de/10012853451
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Do Connections with Buy-Side Analysts Inform Sell-Side Analyst Research?
Cici, Gjergji - 2018
We hypothesize that connections with buy-side analysts provide a sell-side analyst with private information generated by the buy-side that enhances the quality of sell-side research. We proxy for these connections with the number of stocks at the intersection of stocks held in the portfolios of...
Persistent link: https://www.econbiz.de/10012932538
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Investors’ Information Avoidance Behavior in Securities-Based Crowdfunding
Cade, Nicole L.; Garavaglia, Shannon; Hoffman, Vicky B. - 2021
We conduct two experiments in the securities-based crowdfunding setting to investigate whether, for psychological reasons, some investors avoid accounting information they could and would use in their decision making. We find in our first experiment nonprofessional investors more likely to...
Persistent link: https://www.econbiz.de/10013238780
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Net Income Measurement, Investor Inattention, and Firm Decisions
Amornsiripanitch, Natee; Huang, Zeqiong; Kwon, David; … - 2022
When investors have limited attention, does the way in which net income is measured matter for firm value and firms' resource allocation decisions? This paper uses the Accounting Standards Update (ASU) 2016-01, which requires public firms to incorporate changes in unrealized gains and losses...
Persistent link: https://www.econbiz.de/10013312730