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Predictability of earnings and its impact on stock returns : evidence from India
Kundu, Sayantan; Banerjee, Aditya - In: Cogent economics & finance 9 (2021) 1, pp. 1-24
The purpose of this paper is to analyse the predictability of earnings information before the quarterly disclosure date. Two categories of firms are contrasted: the firms that announce better quarterly earnings than the prior period and the firms that do not. The paper uses a sample of 67...
Persistent link: https://www.econbiz.de/10013183853
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Aggregate market reaction to earnings announcements
Cready, William M.; Gurun, Umit G. - In: Journal of accounting research 48 (2010) 2, pp. 289-334
Persistent link: https://www.econbiz.de/10003961444
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Discussion of aggregate market reaction to earnings announcements
Shivakumar, Lakshmanan - In: Journal of accounting research 48 (2010) 2, pp. 335-342
Persistent link: https://www.econbiz.de/10003961454
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Investor reaction to strategic emphasis on earnings numbers : an empirical study
Sadique, M. Shibley; Rahman, M. Arifur - In: Contemporary economics 7 (2013) 3, pp. 51-64
We analyze the earnings information and stock prices of S&P500 firms and find that investors following S&P500 stocks (i) respond more to pro forma earnings than to GAAP earnings, (ii) respond to an emphasis on pro forma earnings, and (iii) are fixated on pro forma earnings. We provide the first...
Persistent link: https://www.econbiz.de/10010228506
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Investor's inattention and earnings announcement effects on tomb-sweeping day in China
Feng, Qingchen - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 291-320
This study investigates the relationship between investor inattention and earnings announcement effects around a Chinese holiday called Tomb-Sweeping Day, which, unlike other holidays, is short. Not only is investor attention distracted, which can generate emotional fluctuation, but a large...
Persistent link: https://www.econbiz.de/10014518585
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How informative are earnings forecasts?
Bruijn, Bert de; Franses, Philip Hans - In: Journal of risk and financial management : JRFM 11 (2018) 3, pp. 1-20
We constructed forecasts of earnings forecasts using data on 406 firms and forecasts made by 5419 individuals with on average 25 forecasts per individual. We verified previously found predictors, which are the average of the most recent available forecast for each forecaster and the difference...
Persistent link: https://www.econbiz.de/10011895745
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Post-earning announcement drift and value-glamour anomalies in NSE listed firms
Gupta, Pankaj Kumar; Dhusia, Devendra Kumar - In: Trends economics and management 15 (2021) 37, pp. 27-42
Purpose of the article: Of the various market anomalies, the Value-Glamour anomaly and Post-Earnings Announcement Drifts (PEAD) have consistently attracted the attention of researchers. Prior studies have established that the reaction of value stocks and glamour stocks to the earnings...
Persistent link: https://www.econbiz.de/10012606896
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Investor reaction to mandatory offers on the Warsaw Stock Exchange
Okoń, Szymon - In: Contemporary economics 6 (2012) 2, pp. 74-83
The following paper aims to assess investor reaction to mandatory offers on the Warsaw Stock Exchange, which is important because knowledge about these reactions can be used to make better investment decisions. This paper highlights the importance of procedure in making a mandatory offer and its...
Persistent link: https://www.econbiz.de/10009767609
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The spillover effect of disclosure rules and materiality thresholds : evidence from profit warnings issued in Hong Kong market
Wang, Rencheng; Zhang, Yao - In: China journal of accounting research : CJAR 4 (2011) 1/2, pp. 63-80
mandatory profit warning regulation of mainland China, but other firms listed only in Hong Kong only need to follow the … spillover effect, i.e. whether these Chinese dual-listed firms influence their peers only listed in Hong Kong to release profit … warnings. We find that firms only listed in Hong Kong are more likely to issue profit warnings if their Chinese dual …
Persistent link: https://www.econbiz.de/10011823702
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On guidance and volatility
Billings, Mary Brooke; Jennings, Robert H.; Lev, Baruch - In: Journal of accounting & economics 60 (2015) 2/3, pp. 161-180
Persistent link: https://www.econbiz.de/10011437528