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...

New-CEO earnings news exhibits asymmetric effects on stock prices. Stock prices rise more on good earnings news announced by firms with new CEOs compared with those with established CEOs. By contrast, stock prices tend to fall by a smaller amount on bad earnings news for new CEOs. Both the...

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...

This paper explores the puzzle of inconsistent findings in regard to bank lending decisions and the negative response to bank loan announcements in China. Using firm performance before and after the lending decisions, adjusted for the effects of earnings management, we are able to examine not...

This study examines firms' decision to voluntarily adopt IFRS in a setting where there are changes to the governance system in a traditionally code law country and how market responses to such decisions. We find the probability of voluntary IFRS adoption to be higher among firms that have a high...

We investigate whether investors' perception of a firm's trustworthiness affects underreaction to earnings news. We develop a model that predicts how trust helps explain underreaction to news, and test this prediction under three different empirical settings where a firm's perceived...

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...

This study examined the impact of Human Resource Accounting (HRA) on corporate valuation of banks quoted on the Nigeria Stock Exchange.The study made use of secondary data obtained from the annual reports and accounts of the selected banks under study. The relevant data were subjected to...

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...