haku: @freeterm Impact analysis / yhteensä: 10
viite: 5 / 10
| Tekijä: | Schadewitz, H.J. Kanto, A.J. Kahra, H. Blevins, D.R. |
| Otsikko: | An analysis of the impact of varying levels of interim disclosure on Finnish share prices within five days of the announcement |
| Lehti: | American business review
2002 : JUN, VOL. 20:2, p. 33-46 |
| Asiasana: | Stock markets Prices Securities Rate of return Statistical methods Nordic countries Finland |
| Vapaa asiasana: | Impact analysis |
| Kieli: | eng |
| Tiivistelmä: | This study compares a controlled earning/price relationship existing in three regimes of voluntary interim disclosure. The existence of differences among the three levels of disclosure indicates the importance of interim reporting. Specifically, this study discovers that investors in the Helsinki Exchanges react to interim releases on the day they are published. The share price quickly rises above the association value. This confirms the finding of Debondt and Thaler (1985). Following that, the share prices gradually decline to the association value. This confirms the Daniel, Hirshleifer and Subrahmanyam (1998) finding. Thus the research reported here resolves an apparent empirical conflict. |
SCIMA