Our fundamental research question is in understanding ways in which the financial markets have adapted to Reg FD, and our particular focus is on how market participants use industry information embedded in firms' earnings announcements. We find that announcements of quarterly earnings made by...

This paper examines dividend initiation announcements made by firms in the information technology sector. This sector is the subject of intense investor interest and has long been characterized with hyper growth, high margin, high volatility, and high risk. Also, the corporate life cycle of...