haku: @author Francis, J. / yhteensä: 15
viite: 3 / 15
| Tekijä: | Francis, J. Schipper, K. Vincent, L. |
| Otsikko: | Expanded Disclosures and the Increased Usefulness of Earnings Announcements |
| Lehti: | Accounting Review
2002 : JUL, VOL.77-3, p. 515-546 |
| Asiasana: | CAPITAL MARKETS EARNINGS ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | The authors investigate three explanations for prior studies' finding that the usefulness of earnings announcements, as measured by their absolute market responses, has increased over time. The authors confirm this increase for a sample of 426 relatively large, stable firms over 1980-1999. The authors find no evidence that this over-time increase in the magnitude of the market reaction to the authors' sample firms' earnings announcements is attributable to increases in the absolute amount of unexpected earnings conveyed in the announcements or to increases in the intensity of investors' average reaction to unexpected earnings. The authors analyze and code the contents of 2,190 earnings announcement press releases. |
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