The Stock Price Effects of Changes in Dispersion of Investor Beliefs during Earnings Announcements

2008 ◽  
Author(s):  
Lynn L. Rees ◽  
Wayne B. Thomas
Keyword(s):  
Stock Price ◽  
Earnings Announcements ◽  
Price Effects

Intra-Group Propping: Evidence from the Stock-Price Effects of Earnings Announcements by Korean Business Groups

2008 ◽  
Author(s):  
Gil S. Bae ◽  
Youngsoon Susan Cheon ◽  
Jun-Koo Kang
Keyword(s):  
Stock Price ◽  
Business Groups ◽  
Earnings Announcements ◽  
Price Effects

Intragroup Propping: Evidence from the Stock-Price Effects of Earnings Announcements by Korean Business Groups

2008 ◽  
Vol 21 (5) ◽  
pp. 2015-2060 ◽  
Author(s):  
Gil S. Bae ◽  
Youngsoon S. Cheon ◽  
Jun-Koo Kang
Keyword(s):  
Stock Price ◽  
Business Groups ◽  
Earnings Announcements ◽  
Price Effects

The stock price effects of changes in dispersion of investor beliefs during earnings announcements

2008 ◽  
Vol 15 (1) ◽  
pp. 1-31 ◽  
Author(s):  
Lynn Rees ◽  
Wayne Thomas
Keyword(s):  
Stock Price ◽  
Earnings Announcements ◽  
Price Effects

New Evidence on Stock Price Effects Associated with Changes in the S&P 500 Index

1997 ◽  
Vol 70 (3) ◽  
pp. 351-383 ◽  
Author(s):  
Anthony W. Lynch ◽  
Richard R. Mendenhall
Keyword(s):  
Stock Price ◽  
Price Effects ◽  
New Evidence

Stock Price Behavior Associated with Post-1974–75 LIFO Adoptions Announced at Alternative Disclosure Times

1996 ◽  
Vol 11 (4) ◽  
pp. 535-564 ◽  
Author(s):  
Morton Pincus ◽  
Charles E. Wasley
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Earnings Announcements ◽  
Market Response ◽  
Price Behavior ◽  
Positive Information ◽  
Earnings Announcement ◽  
Earnings Growth ◽  
Adoption Decision ◽  
Annual Earnings

We examine the behavior of stock prices at the time of post-1974–75 LIFO adoption announcements. We exploit recent theoretical and empirical developments in the LIFO adoption literature in an attempt to resolve some of the mixed findings in Hand (1993). We study LIFO adoptions announced prior to as well as at the time of annual earnings announcements. Previous research has mostly centered on 1974–75 adoptions made at the time of annual earnings announcements. Our study of LIFO adoptions announced prior to annual earnings announcement dates enables us to provide evidence on whether the early announcement of a LIFO adoption is used by firms to signal positive information about earnings growth. Collectively, our results suggest that in explaining the market response to LIFO adoption announcements, extant models of the LIFO adoption decision do not fully capture the richness of differing inflationary environments or of alternative disclosure times.

scholarly journals Measuring The Usefulness Of Information For Investors Inferences: The Case Of Quarterly Earnings Announcements

2010 ◽  
Vol 8 (7) ◽  
Author(s):  
C. Catherine Chiang ◽  
Yaw M. Mensah
Keyword(s):  
Financial Performance ◽  
Stock Price ◽  
Value Of Information ◽  
Earnings Announcements ◽  
New Method ◽  
Rates Of Return ◽  
Earnings Announcement ◽  
Quarterly Earnings ◽  
Other Information

In this paper, we propose a new method for assessing the usefulness of information, its inferential value. In the context of accounting and finance, we define the inferential value of information about a firm as how efficaciously the information enables investors to draw correct inferences regarding its future financial performance. On the basis of this definition, we develop a stylized model to measure the proximity of a firm’s future realized rates of return to the estimated rates of return implied by its current stock price. We then use the new measure to test the hypothesis that quarterly earnings announcements have a higher inferential value than other information arriving during interim (non-earnings announcement) periods. Our empirical findings suggest that investors are able to make more informative inferences about a firm’s future profitability based on quarterly earnings announcement than based on information available during interim periods. However, our findings also suggest that, in general, investors do not correctly anticipate future losses. Finally, we find that earnings announcements are as important in anticipating future profitability for larger firms as they are for smaller firms.

Stock Price Crash and Investors’ Response to Earnings Announcements

2021 ◽  
Vol 46 (3) ◽  
pp. 313-344
Author(s):  
Yewon Kim ◽  
Yoojin Shin ◽  
Eugenia Y. Lee
Keyword(s):  
Stock Price ◽  
Earnings Announcements
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