Variation in the stock market response to earnings announcements associated with the reporting firm's position in its industry's earnings release queue
Prior research examining the effects of earnings release timing on the parameters of the linear model relating unexpected earnings and unexpected stock returns can conveniently be divided into studies based on either the "bad news is delayed" behavioral motivation or the predisclosure information environment argument. This dissertation proposes that the position the firm takes in its industry earnings release queue (PERQ) represents a firm-specific information production parameter associated with cross-sectional differences in the earnings response coefficient (ERC), and extends the literature by examining the two aforementioned arguments jointly while controlling for previously identified ERC determinants.
Authors: | Rambo, Robert George |
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Publisher: |
Florida State University Libraries |
Subject: | Business Administration | Accounting |
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