Do prices respond stronger to more precise news? - Testing for the catalyzing effects of precision signals in the U.S. employment report

It is well documented that the U.S. employment report has a strong price impact in financial markets. Based of these precision proxies, we show that prices respond significantly stronger to more precise information, even after controlling for an asymmetric price response to good and bad news.

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Alternative title:	Reagieren Preise stärker bei präziseren Informationen?
Year of publication:	2003-09-01
Authors:	Hautsch, Nikolaus ; Hess, Dieter
Publisher:	Universität <Köln> / Seminar für Allgemeine Betriebswirtschaftslehre und Finanzierungslehre
Subject:	Preisbildung \| pricing \| Kreditmarkt \| Information \| Signaling \| Preisänderung \| declining price anomaly

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Extent:	276480 bytes 38 p. application/pdf
Series:	Universität zu Köln - Seminar für Allgemeine Betriebswirtschaftslehre und Finanzierungslehre - Veröffentlichungen
Type of publication:	Book / Working Paper
Language:	English
Classification:	E44 - Financial Markets and the Macroeconomy ; G14 - Information and Market Efficiency; Event Studies ; Empirical research. of corporate finance and investment policy ; Individual Working Papers, Preprints ; USA
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005844931