Natural disasters in Australia have caused significant damage to the local economy and businesses. This paper employs the event study methodology to examine the natural disaster induced equity market reaction using daily equity return of 32 Australian firms within the following seven major...

The research is aimed at verifying the value relevance of accounting information with reference two different stock markets: the UK and the Italian one.Starting from the Edward, Bell and Ohlson's approach, different regression models have been implemented, analyzing – for a three year period...

I investigate the effect of analysts on the speed with which bad news is reflected in earnings. Intuitively, the more analysts that cover a firm, the more costly it will be for the firm to keep bad news suppressed. Thus, analyst coverage should positively affect bad news timeliness (BNT) (but...

Prior research has documented that arbitrage activity significantly reduces or eliminates stock market anomalies. However, if anomalies arise due to unsophisticated investors' behavioral biases, then these same biases can also apply to unsophisticated arbitrageurs and thereby disrupt the...

This study examined the Modeling Correlation between Shareholders Dividend and Corporate Performance in Nigeria. The study employed the ex post-facto research design. To obtain answers on the research questions and to test the hypotheses formulated, data were obtained from annual reports of...

We show that the cost of trading on negative news, relative to positive news, increases before earnings announcements. Our evidence suggests that this asymmetry is due to financial intermediaries reducing their exposure to announcement risks by providing liquidity asymmetrically. This asymmetry...

We examine whether financial analysts strategically time the announcement of their recommendation revisions consistent with their incentives to maintain relations with management. We provide evidence that investor and media attention to recommendation revisions is reduced on weekends, which...

We examine if investor expectations of two common disclosure mediums (conference calls and Twitter) interact with a CEO's communication style to influence investor judgments. Consistent with theory, results show that when the disclosure medium is a conference call, investors are less willing to...

Predicted stock issuers (PSIs) are firms with expected “high-investment and low-profit” (HILP) profiles that earn unusually low returns. We carefully document important features of PSI firms to provide insights on the economic mechanism behind the HILP phenomenon. Top-PSI firms are...

This study investigates the effect of a security regulation that occurs concomitantly with International Financial Reporting Standards (IFRS) adoption on the information content of earnings announcements in Italy. To identify the effect of this regulation, we use a treatment (i.e., Italy) and a...