haku: @author Wang, X. / yhteensä: 8
viite: 5 / 8
| Tekijä: | Francis, J. Nanda, D. Wang, X. |
| Otsikko: | Re-examining the effects of regulation fair disclosure using foreign listed firms to control for concurrent shocks |
| Lehti: | Journal of Accounting & Economics
2006 : SEP, VOL. 41:3, p. 271-292 |
| Asiasana: | listed companies information regulations stock exchanges USA |
| Vapaa asiasana: | regulation fair disclosure |
| Kieli: | eng |
| Tiivistelmä: | The effects of regulation fair disclosure (Reg FD) are re-examined using ADRs (exempt from Reg FD) to control for confounding events affecting all traded firms. Tests based on public information metrics, that is, informational efficiency, returns volatility, and trading volume, and on analyst information metrics, that is accuracy and forecast dispersion, suggest that Reg FD did not uniquely affect the U.S. information environment. However, analyst report informativeness declined for U.S. firms relative to ADR firms, providing evidence consistent with Reg FD. |
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