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  • Search: subject_exact:"Ankündigungseffekt"
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Year of publication
Subject
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Ankündigungseffekt 8,543 Announcement effect 8,427 Börsenkurs 4,294 Share price 4,252 USA 3,306 United States 3,277 Theorie 1,769 Theory 1,744 Kapitaleinkommen 1,489 Capital income 1,486 Geldpolitik 896 Volatilität 880 Aktienmarkt 879 Monetary policy 871 Stock market 870 Volatility 860 Schätzung 789 Estimation 757 Übernahme 697 Gewinn 696 Profit 693 Takeover 691 Anlageverhalten 630 Behavioural finance 624 Event study 464 Wirkungsanalyse 445 Impact assessment 440 Dividende 400 Dividend 396 Ereignisstudie 377 Welt 342 Wechselkurs 339 World 338 Exchange rate 329 Zins 312 Aktienrückkauf 308 Share repurchase 306 Earnings announcement 304 Interest rate 302 Gewinnprognose 290
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Online availability
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Free 3,008 Undetermined 1,614
Type of publication
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Article 4,771 Book / Working Paper 3,742 Journal 37
Type of publication (narrower categories)
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Article in journal 4,592 Aufsatz in Zeitschrift 4,592 Working Paper 1,302 Graue Literatur 1,258 Non-commercial literature 1,258 Arbeitspapier 1,197 Hochschulschrift 208 Thesis 182 Aufsatz im Buch 150 Book section 150 Collection of articles written by one author 49 Sammlung 49 Commentary 23 Kommentar 23 Conference paper 18 Konferenzbeitrag 18 Systematic review 18 Übersichtsarbeit 18 Bibliografie enthalten 15 Bibliography included 15 Collection of articles of several authors 10 Sammelwerk 10 Case study 9 Fallstudie 9 Aufsatzsammlung 7 Article 5 Konferenzschrift 5 Amtsdruckschrift 4 Dissertation u.a. Prüfungsschriften 4 Government document 4 Conference proceedings 2 Mehrbändiges Werk 2 Multi-volume publication 2 Statistik 2 Zeitung 2 Amtliche Publikation 1 Bibliografie 1 CD-ROM, DVD 1 Handbook 1 Handbuch 1
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Language
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English 8,364 German 139 French 22 Spanish 13 Undetermined 5 Danish 4 Italian 3 Czech 1 Turkish 1
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Author
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Caporale, Guglielmo Maria 40 Ehrmann, Michael 34 Vega, Clara 34 Madura, Jeff 30 Kutan, Ali Mustafa 29 Spagnolo, Fabio 29 Spagnolo, Nicola 29 Hess, Dieter 27 Hautsch, Nikolaus 26 Smales, Lee A. 26 Gürkaynak, Refet S. 25 Swanson, Eric T. 25 Bollerslev, Tim 23 Fratzscher, Marcel 23 Schiereck, Dirk 23 Jiang, George J. 22 Kurov, Alexander 22 Faff, Robert W. 21 Altavilla, Carlo 20 Hayo, Bernd 20 Wright, Jonathan H. 20 Kim, Suk-Joong 19 Moessner, Richhild 19 Neuenkirch, Matthias 19 Fatum, Rasmus 18 Thornton, Daniel L. 18 Truong, Cameron 18 Vermaelen, Theo 18 Roley, V. Vance 17 Haan, Jakob de 16 Ramchander, Sanjay 16 Neely, Christopher J. 15 Remolona, Eli M. 15 Roley, Vernon Vance 15 Sirmans, Clemon F. 15 Stulz, René M. 15 Andersen, Torben 14 Betzer, André 14 Giannone, Domenico 14 Kısacıkoğlu, Burçin 14
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Institution
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National Bureau of Economic Research 100 Charles A. Dice Center for Research in Financial Economics <Columbus, Ohio> 10 Columbia University 4 Federal Reserve Bank of Chicago 4 Federal Reserve Bank of St. Louis 4 Rodney L. White Center for Financial Research 4 William Davidson Institute <Ann Arbor, Mich.> 4 National Science Foundation 3 Science Associates International 3 Sonderforschungsbereich Quantifikation und Simulation Ökonomischer Prozesse 3 epubli GmbH 3 Center for Economic Research <Tilburg> 2 Centre for Analytical Finance <Århus> 2 Centre of Financial Studies 2 Erasmus Research Institute of Management 2 Federal Reserve System / Board of Governors 2 Georgetown University / Economics Department 2 Institut for Finansiering <Frederiksberg> 2 Internationaler Währungsfonds / Research Department 2 Kansantaloustieteen Laitos <Tampere> 2 Research Seminar in International Economics 2 Springer Fachmedien Wiesbaden 2 USA / Department of Agriculture 2 University of British Columbia / Finance Division 2 American Chamber of Commerce for Brazil 1 Bank of Canada 1 Books on Demand GmbH <Norderstedt> 1 Bourse de Commerce <Körperschaft : Paris> 1 Broken Hill South Limited 1 Center for International Business Education and Research <Urbana, Ill.> 1 Centre for International Economic Studies 1 Centro Interdipartimentale di Studi Internazionali sull'Economia e lo Sviluppo <Rom> 1 Ceylon / Department of the Registrar-General and Director of Commercial Intelligence 1 Claremont Institute for Economic Policy Studies 1 Columbia University / Division of Geology and Geography 1 Columbia University / European Institute 1 Columbia University / Faculty of Philosophy 1 Columbia University / Russian Institute 1 Crucible Steel Company of America <Pittsburgh, Pa.> 1 Development Bank <Singapur> 1
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Published in...
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The journal of finance : the journal of the American Finance Association 139 Journal of banking & finance 120 Working paper / National Bureau of Economic Research, Inc. 110 The review of financial studies 101 NBER working paper series 99 Review of quantitative finance and accounting 98 Journal of financial and quantitative analysis : JFQA 92 Journal of financial economics 87 The quarterly review of economics and finance : journal of the Midwest Economics Association ; journal of the Midwest Finance Association 73 International review of financial analysis 68 The journal of corporate finance : contracting, governance and organization 67 Journal of accounting & economics 60 Journal of international money and finance 59 Pacific-Basin finance journal 58 Applied financial economics 56 Journal of economics and finance 51 Journal of economics & business 49 The journal of futures markets 48 Journal of international financial markets, institutions & money 46 Applied economics letters 45 Finance research letters 45 International review of economics & finance : IREF 45 NBER Working Paper 45 Quarterly journal of business and economics : QJBE 45 Research in international business and finance 45 Journal of money, credit and banking : JMCB 42 The accounting review : a publication of the American Accounting Association 42 The financial review : the official publication of the Eastern Finance Association 42 CESifo working papers 41 The European journal of finance 41 The journal of business : B 41 Management science : journal of the Institute for Operations Research and the Management Sciences 39 Review of accounting studies 38 Applied economics 37 Discussion paper / Centre for Economic Policy Research 37 Economics letters 37 Journal of empirical finance 37 The journal of applied business research 35 Working paper series / European Central Bank 32 Global finance journal 31
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Source
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ECONIS (ZBW) 8,429 EconStor 110 USB Cologne (EcoSocSci) 8 OLC EcoSci 2 RePEc 1
Showing 1 - 50 of 8,550
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Long-term underperformance of public versus rights offering firms
Kim, Hyun Ju; Song, Kyojik "Roy" - In: Journal of derivatives and quantitative studies 30 (2022) 1, pp. 46-57
The authors compare the post-issue stock and operating performance of rights issue versus public offer firms using Korean data. The authors find that the stock returns of rights issue firms are less negative than those of public offering firms during the three years subsequent to the seasoned...
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Saved by the bell? : equity market responses to surprise Covid-19 lockdowns and central bank interventions
Mathur, Aakriti; Sengupta, Rajeswari; Pratap, Bhanu - 2022
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Equity carve-outs, dual directors, and internal labor markets
Fan, Pengda - In: International Journal of Financial Studies : open … 10 (2022) 1, pp. 1-23
Given the prevalence of dual directors who serve simultaneously on the parent as well as the subsidiary board, it is important to examine their functions, a topic largely ignored in the existing literature. Exploring the functions of dual directors highlights equity carve-out objectives other...
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When blockchain creates shareholder value : empirical evidence from international firm announcements
Klöckner, Maximilian; Schmidt, Christoph Georg; … - In: Production and operations management : the flagship … 31 (2022) 1, pp. 46-64
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Stakeholder engagement : investors' environmental risk aversion and corporate earnings
Kyaw, Khine; Olugbode, Mojisola; Petracci, Barbara - In: Business strategy and the environment 31 (2022) 3, pp. 1220-1231
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News media versus FRED-MD for macroeconomic forecasting
Ellingsen, Jon; Larsen, Vegard Høghaug; Thorsrud, Leif … - In: Journal of applied econometrics 37 (2022) 1, pp. 63-81
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Market misreaction? : leverage and mergers and acquisitions
Krishnan, C. N. V.; Yakimenko, Vasiliy - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-21
Using a large database of U.S. mergers and acquisitions (M&As) announced from 2010 through 2017, we examine the effects of capital ratio (leverage) on the announcement period stock price reaction as well as on longer-term stock returns and performance, for banks, making comparisons with...
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Bank board changes in size and composition : do they matter for investors?
Vallelado González, Eleuterio; García Olalla, Myriam - In: Corporate governance : an international review 30 (2022) 2, pp. 161-188
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Investors' reactions to csr news in family versus nonfamily firms : a study on signal (in)credibility
Sekerci, Naciye; Jaballah, Jamil; Essen, Marc van; … - In: Entrepreneurship theory and practice : ET&P 46 (2022) 1, pp. 82-116
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Financial markets and ECB monetary policy communication - a second QE surprise
Baumgärtner, Martin - 2022 - Draft: January 25, 2022
This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices differently. A break in the ECB's communication from 2016 onwards makes it necessary to adjust the identification of monetary policy surprises in the euro area. By modifying the...
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Interest rate surprises : a tale of two shocks
Nunes, Ricardo; Ozdagli, Ali; Tang, Jenny - 2022 - This version: January 2022
Interest rate surprises around FOMC announcements reveal both the surprise in the monetary policy stance (the pure policy shock) and interest rate movements driven by exogenous information about the economy from the central bank (the information shock). In order to disentangle the effects of...
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Market uncertainty and sentiment around USDA announcements
Cao, An N. Q.; Robe, Michel A. - In: The journal of futures markets 42 (2022) 2, pp. 250-275
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Net buying pressure and informed trading in the options market : evidence from earnings announcements
Badshah, Ihsan Ullah; Koerniadi, Hardjo - In: Journal of risk and financial management : JRFM 15 (2022) 2, pp. 1-9
By employing the modified net buying pressure as a measure of informed option trading, this study tested whether option trading around quarterly earnings announcements is either directionally motivated and/or volatility motivated. We found evidence that is consistent with the idea that option...
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Analysis of the response of exchange rates to specific FOMC announcements using high-frequency data
Wang, Xiaoyong; Wang, Zanxin - In: Borsa Istanbul Review 22 (2022) 1, pp. 133-144
Empirical studies have shown that Federal Open Market Committee (FOMC) announcements affect the exchange rate. Because of different policy targets, the exchange rate response to specific events may vary. Based on the theory of directional change (DC), this study analyzes the effects of specific...
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Do financial advisors matter for M&A pre-announcement returns?
Betzer, André; Gider, Jasmin; Limbach, Peter - 2022
This study documents economically meaningful and persistent financial advisor fixed effects in target firms’ abnormal stock returns shortly prior to takeover announcements.Additional difference-in-differences analyses suggest that advisors are associated with lower pre-bid stock returns after...
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Testing stock market efficiency from spillover effect of Panama leaks
Nasir, Adeel; Gherghina, Stefan Cristian; Mata, Mário Nuno - In: Journal of risk and financial management : JRFM 15 (2022) 2, pp. 1-23
On 3 April 2016, Mossack Fonseca provided the historically most significant leak of its shareholder’s data for owning offshore companies. Shareholders include many political and influential figures around the globe, which causes a moral hazard. The study analyses the effects of Panama leak...
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Expectation-driven term structure of equity and bond yields
Zeng, Ming; Zhao, Guihai - 2022 - Last updated: May 11, 2022
Recent findings on the term structure of equity and bond yields pose serious challenges to existing models of equilibrium asset pricing. This paper presents a new equilibrium model of subjective expectations to explain the joint historical dynamics of equity and bond yields (and their yield...
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Do financial markets respond to macroeconomic surprises? : evidence from the UK
Heinlein, Reinhold; Lepori, Gabriele M. - In: Empirical economics : a quarterly journal of the … 62 (2022) 5, pp. 2329-2371
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How do the financial markets respond to emerging economies' asset purchase program? : evidence from the Covid-19 crisis
Prabheesh, K. P.; Kumar, Sanjiv - 2022
This study examines the impacts of unconventional monetary policy on the exchange rate, stock market, and bond market during the COVID-19 economic crisis in an emerging economy. It focuses particularly on the asset purchase program conducted by the Central Bank of India. The Central Bank...
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Forward guidance shocks
Miescu, Mirela S. - 2022
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Stock market implications of Fed's balance sheet size
Ruman, Asif M. - In: Journal of economic studies 49 (2022) 2, pp. 259-273
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COVID-19 announcements and investor reactions on the Australian securities exchange
Djajadikerta, Hadrian Geri; Trireksani, Terri; … - In: Australasian accounting business and finance journal : AABF 16 (2022) 1, pp. 134-145
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The effects of conventional and unconventional monetary policy shocks on US REITs moments : evidence from VARs with functional shocks
Wang, Shixuan; Gupta, Rangan; Bonato, Matteo; Çepni, … - 2022
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What moves markets?
Kerssenfischer, Mark; Schmeling, Maik - 2022
What share of asset price movements is driven by news? We build a large, time-stamped event database covering scheduled macro news as well as unscheduled events. We find that news account for about 50% of all bond and stock price movements in the United States and euro area since 2002,...
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Market manipulation around seasoned equity offerings : evidence prior to the global financial crisis of 2007-2009
Charoenwong, Charlie; Ding, David K.; Wang, Ping - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-27
Since the adoption of the SEC's Rule 10b-21 in 1988, many researchers have been concerned over the effectiveness of short sales constraints in preventing manipulative trading in the derivatives market. We analyze whether options can be used as synthetic short sale instruments to manipulate stock...
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Market-based monetary policy uncertainty
Bauer, Michael D.; Lakdawala, Aeimit; Mueller, Philippe - In: The economic journal : the journal of the Royal … 132 (2022) 644, pp. 1290-1308
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Sanctions against Russian oligarchs also affect their companies
Bremus, Franziska; Hüttl, Pia - In: DIW weekly report : economy, politics, science : a … 12 (2022) 21, pp. 142-147
In February 2022, the EU Commission announced economic sanctions against Russian oligarchs. The goal was to exert pressure on the Kremlin: initially to stop deploying troops to the Donetsk and Luhansk regions and ultimately to end its attack on Ukraine. The present report investigates how these...
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The spillover effects of US unconventional monetary policy on the Taiwanese economy
Chen, Kuan-Chieh - In: International journal of economics and financial issues … 12 (2022) 2, pp. 104-109
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Fiscal consolidation under market's scrutiny : how do fiscal announcements affect bond yields
Baxa, Jaromír; Geršl, Adam - 2022
We estimate the short-run reactions of bond spreads of selected EU member states vis-à-vis the German bund on fiscal announcements from January 2000 till December 2019. To avoid selection bias, the announcements are scrapped from the Factiva database, and then, depending on their tone, they are...
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Strategic trading around anticipated supply: demand shocks
2022
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Forecast revisions as instruments for news shocks
Cascaldi-Garcia, Danilo - 2022
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News Implied Volatility and Aggregate Economic Activity : Evidence from the Japanese Government Bond Market
Goshima, Keiichi; Ishijima, Hiroshi; Shintani, Mototsugu - 2021
Because options on 10-year Japanese government bonds (JGB) futures are relatively new in the market, their implied volatility, JGB-VIX, is not available before 2007. For the period when JGB-VIX is available, we conduct supervised learning by using the daily newspaper articles as input and...
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Stock Market Response to Firms’ Unethical Conduct
Navarra, Elisa - 2021
In the last decades, labor rights violations and tangible environmental challenges have caused companies to come under increasing society’s pressure to achieve environmental and social goals. Using a novel dataset on worldwide industrial disasters and companies (allegedly) involved in them, I...
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The High-Frequency Impact of Macroeconomic News on Jumps and Co-Jumps in the Cryptocurrency Markets
Ben Omrane, Walid; Guesmi, Khaled; Qi, Qianru; Saadi, Samir - 2021
This study investigates the extent to which intra-day jumps and co-jumps in cryptocurrency markets stem from the release of macroeconomic news from the U.S., Germany and Japan. Using 5-min frequency prices for Bitcoin and Ethereum quoted against the U.S. dollar over the 2016-2019 period, we find...
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Stock Market Reactions to Favorable and Unfavorable Information Security Events : A Systematic Literature Review
Ali, Syed Emad Azhar; Lai, Fong-Woon; Dhanapal, Dominic; … - 2021
The rapid digital transformations across every industry sector, accelerated partly due to the COVID-19 pandemic, have increased organizations’ use of information systems for operational and strategic purposes. These organizational responses have led to a confluence of digital, biological, and...
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Trade Policy is Real News : Theory and Evidence
Alessandria, George A.; Mix, Carter - 2021
We evaluate the aggregate effects of changes in trade barriers when these changes can be implemented slowly over time and trade responds gradually to changes in trade barriers because firm-level trade costs make exporting a dynamic decision. Our model shows how expectations of changes in trade...
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Pharmaceutical Lottery Stocks : Investors’ Reaction to FDA Announcements
Kliger, Doron; Rothman, Tiran; Mousavi, Shabnam - 2021
We investigate return patterns of lottery-type-stocks around FDA announcements regarding New-Drug-Applications (NDAs), Biological-Licensing-Applications (BLAs), and New-Molecule-Entities (NMEs). Focusing on post-event returns, we document negative abnormal returns (‘bio-run-down’) for the...
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The Response of Short-Term Interest Rates to Weekly Money Announcements
Roley, V. Vance - 2021
The response of short-term interest rates to weekly money announcements since the Federal Reserve's change in operating procedures on October 6, 1979, is examined in this paper. The results indicate that the response increased significantly since October 1979, and that it varies nonlinearly...
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The Impact of News on Stock Market Investors
Basilone, Ryan - 2021
This paper focuses on learning how the impact of news affects stock market investors. During the study I found that the impact of news is directly related to the visibility and length of news in the news cycle. The longer a piece of news is circulated, and the more people see it, the higher the...
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Sovereign Bond Return Behavior to News Reports in the COVID–19 Crisis
Banerjee, Ameet Kumar; Nguyen, Nguyet; Akhtaruzzaman, Md; … - 2021
This study examines the behavior of sovereign bonds to COVID-19 related news in 24 countries most affected by the COVID-19 pandemic. The study applies a continuous Hidden Markov Model (HMM) to analyze the regime shifting behavior of sovereign bonds to the news. The results show that the COVID-19...
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Nonlinear nexus between cryptocurrency returns and COVID–19 news sentiment
Banerjee, Ameet Kumar; Akhtaruzzaman, Md; Dionisio, Andreia - 2021
This paper examines how different categories of COVID–19 news sentiment differentially impact the behavior of cryptocurrency returns. A nonlinear technique of transfer entropy is applied to investigate the relationship between the top 30 cryptocurrencies by market capitalization and COVID–19...
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Measuring the Informativeness of Earnings Announcements : The Role of Event Windows
Das, Somnath; King, Alexander - 2021
This paper examines the informativeness of earnings announcements, by focusing on the role of event windows within which the information content is measured. This focus on event windows is primarily motivated by recent trends towards the announcement of earnings during after-market hours. It is...
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Choosing News Topics to Explain Stock Market Returns
Glasserman, Paul; Krstovski, Kriste; Laliberte, Paul-Robert - 2021
We analyze methods for selecting topics in news articles to explain stock returns. We find, through empirical and theoretical results, that supervised Latent Dirichlet Allocation (sLDA) implemented through Gibbs sampling in a stochastic EM algorithm will often overfit returns to the detriment of...
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Public news, stock-market reactions, and bidding behavior in private merger negotiations
Liu, Tingting; Officer, Micah S. - 2021
Using unique, hand-gathered data, this paper examines how public news about the target firmreleased publicly during the private merger negotiation process affects bidding strategies. Weprovide strong evidence that market reactions to information events during the private sale processhave a...
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Money Announcements, the Demand for Bank Reserves and the Behavior of the Federal Funds Rate within the Statement Week
Campbell, John Y. - 2021
The effect of money stock announcements on the Federal funds rate has been attributed informally to the information conveyed by the announcements about aggregate reserve demand. This "Aggregate Information Hypothesis" explains the effect without reference to Federal Reserve intervention in the...
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Have Employment Reductions Become Good News for Shareholders? the Effect of Job Loss Announcements on Stock Prices, 1970-97
Farber, Henry S.; Hallock, Kevin F. - 2021
We study the reaction of stock prices to announcements of reductions in force (RIFs) using a sample of nearly 3878 such announcements in 1176 large firms during the 1970-97 period collected from the Wall Street Journal Index. We note that, although there has been a dramatic secular increase in...
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Is Media Really the Great Information Equalizer? The Effects of WSJ Coverage of Firm Earnings Announcements on Peer Information Asymmetry in Information Transfers
Xia, Jingjing - 2021
Prior research generally finds that the financial media levels the playing field among investors by reducing information acquisition costs for unsophisticated investors. In the setting of information transfers, I demonstrate that when media coverage is likely to reduce the industry information...
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What Explains the Stock Market'S Reaction to Federal Reserve Policy?
Bernanke, Ben S.; Kuttner, Kenneth N. - 2021
This paper analyzes the impact of changes in monetary policy on equity prices, with the objectives both of measuring the average reaction of the stock market and also of understanding the economic sources of that reaction. We find that, on average, a hypothetical unanticipated 25-basis-point cut...
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Investor Inattention, Firm Reaction, and Friday Earnings Announcements
DellaVigna, Stefano; Pollet, Joshua Matthew - 2021
Do firms release news strategically in response to investor inattention? We consider news about earnings and analyze the response of returns to announcements on Friday and other weekdays. Friday announcements have less immediate and more delayed stock return response. The delayed response as a...
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A Shot in the Arm : The Effect of COVID-19 Vaccine News on Financial and Commodity Markets
Kucher, Oleg; Kurov, Alexander; Wolfe, Marketa - 2021
We analyze the impact of vaccine news announcements by leading vaccine companies on the financial and commodity markets from January to December 2020. We show that the vaccine announcements moved stock prices of the leading vaccine companies, stock markets in the U.S. and Europe (but not in Asia...
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