We examine the role of concurrent information in the striking increase in investor response to earnings announcements from 2001 to 2016, as measured by return variability and volume following Beaver (1968). We find management guidance, analyst forecasts, and disaggregated financial statement...

This text focuses on the disjunction between national systems of corporate disclosure and the global character of capital markets. It offers recommendations for decision-makers on the accounting and reporting reforms necessary to improve disclosure in international equities trading