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Insider Trading and Response to Earnings Announcements : The Impact of Accelerated Disclosure Requirements

Tartaroglu, Semih - 2017

This paper contributes to the debate on the consequences of increased disclosure regulation by investigating the effects of expedited reporting requirements of Form 4 filings, mandated by the Sarbanes-Oxley Act (SOX), on the market response to earnings announcements. We first confirm that SOX...

Persistent link: https://www.econbiz.de/10012972742

Post-Earnings Announcement Drift in Spain and Behavioural Finance Models

Forner, Carlos - 2009

Our study examines whether behavioural theories can explain post-earnings announcement drift (i.e., earnings momentum) in the Spanish market. In particular, we test models proposed by Daniel, Hirshleifer, and Subrahmanyan (1998), Hong and Stein (1999), and Barberis, Shleifer, and Vishny (1998)....

Persistent link: https://www.econbiz.de/10013155150

Earnings autocorrelation and the post-earnings-announcement drift : experimental evidence

Fink, Josef; Palan, Stefan; Theissen, Erik - 2020

Post-earnings-announcement drift (PEAD) is one of the most solidly documented asset pricing anomalies. We use the controlled conditions of an experimental lab to investigate whether earnings autocorrelation is the driving cause of this anomaly. We observe PEAD in settings with uncorrelated and...

Persistent link: https://www.econbiz.de/10012309456

Information processing in the stock market around anticipated accounting information : earnings release

García Martín, C. José; Herrero, Begoña; Ibáñez, … - In: The European journal of finance 18 (2012) 1/2, pp. 109-133

Persistent link: https://www.econbiz.de/10009565248

Inconsistent Signals, Earnings Announcements and Market Uncertainty

He, Wen - 2019

We test the proposition in Johnstone (2016) that new information may lead to higher, rather than lower, uncertainty about firms' future payoffs. Based on the Bayesian rule, we hypothesize earnings news that is inconsistent with investors' prior belief will lead to higher market uncertainty....

Persistent link: https://www.econbiz.de/10012902474

Signalling under Uncertainty : The Case of IFRS Adoption

Ghani, Osman - 2019

This paper examines the liquidity, Tobin's Q, and cost of equity effects from voluntary and mandatory IFRS adoption. In … avoidance in the host country. We find that prior to the mandatory adoption of IFRS by the EU member states, voluntary adopters … across countries that have adopted IFRS …

Persistent link: https://www.econbiz.de/10012905363

Post Earnings Announcement Drift, a Price Signal?

Messias, Julien - 2015

This paper investigates the robustness of post-earnings-announcement-drift (PEAD) on a price signal perspective, unlike the traditional literature that focuses on fundamental signal. The studied period is 2003-2015, for four main US indices. The results suggest that some economic agents are too...

Persistent link: https://www.econbiz.de/10013021921

Earnings information, arbitrage constraints, and the forecast dispersion anomaly

Kim, Soonho; Na, Haejung - In: Finance research letters 35 (2020), pp. 1-12

Persistent link: https://www.econbiz.de/10012439091

Trading volume, heterogeneous expectations, and earnings announcements

Dinh, Thanh Huong; Gajewski, Jean-François - In: The journal of behavioral finance : a publication of … 16 (2015) 4, pp. 327-343

Persistent link: https://www.econbiz.de/10011566147

Market Uncertainty and Earnings Guidance

Agapova, Anna - 2018

We test a theory about ambiguity surrounding the distribution of fundamental values to determine how market uncertainty affects earnings guidance perception and behavior. We find a more pronounced negative share price response to negative earnings guidance and a lower likelihood that management...

Persistent link: https://www.econbiz.de/10012924988

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