Hendricks, Kevin B.; Singhal, Vinod R. - In: Manufacturing & Service Operations Management 11 (2009) 3, pp. 509-524
This paper documents that excess inventory announcements, an indication of demand-supply mismatch, are associated with an economically and statistically significant negative stock market reaction. The results are based on a sample of 276 excess inventory announcements made during 1990-2002. Over...