Author: Edwin R. Etter
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This paper utilizes daily closing prices on the U.S., British and Japanese markets, and daily trading volume on the U.S. market to investigate whether U.S. investors find information content in British and Japanese, annual and interim earnings announcements. When examining the unexpected price reaction, the vector autoregression (VAR) model is used to filter out the price effect of the earnings announcement in the home (non-U.S.) market in order to isolate the price effect generated by U.S. investors. Results of the price analyses indicate that U.S. investors find information content in both British and Japanese earnings announcements. Next, based on the model of Holthausen and Verrecchia (1990), price and trading volume responses are analyzed concurrently to determine the effect of the foreign earnings announcements on U.S. investors' level of informedness and degree of consensus (components of the information content). In general, the analyses indicate that both British and Japanese earnings announcements increase U.S. investors' level of informedness (i.e., decrease their level of uncertainty), and that British and Japanese earnings announcements have a greater impact on U.S. investors' level of informedness than on their degree of consensus.
The Information Content of British and Japanese, Annual and Interim Earnings Announcements
Author: Edwin R. Etter
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This paper utilizes daily closing prices on the U.S., British and Japanese markets, and daily trading volume on the U.S. market to investigate whether U.S. investors find information content in British and Japanese, annual and interim earnings announcements. When examining the unexpected price reaction, the vector autoregression (VAR) model is used to filter out the price effect of the earnings announcement in the home (non-U.S.) market in order to isolate the price effect generated by U.S. investors. Results of the price analyses indicate that U.S. investors find information content in both British and Japanese earnings announcements. Next, based on the model of Holthausen and Verrecchia (1990), price and trading volume responses are analyzed concurrently to determine the effect of the foreign earnings announcements on U.S. investors' level of informedness and degree of consensus (components of the information content). In general, the analyses indicate that both British and Japanese earnings announcements increase U.S. investors' level of informedness (i.e., decrease their level of uncertainty), and that British and Japanese earnings announcements have a greater impact on U.S. investors' level of informedness than on their degree of consensus.
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This paper utilizes daily closing prices on the U.S., British and Japanese markets, and daily trading volume on the U.S. market to investigate whether U.S. investors find information content in British and Japanese, annual and interim earnings announcements. When examining the unexpected price reaction, the vector autoregression (VAR) model is used to filter out the price effect of the earnings announcement in the home (non-U.S.) market in order to isolate the price effect generated by U.S. investors. Results of the price analyses indicate that U.S. investors find information content in both British and Japanese earnings announcements. Next, based on the model of Holthausen and Verrecchia (1990), price and trading volume responses are analyzed concurrently to determine the effect of the foreign earnings announcements on U.S. investors' level of informedness and degree of consensus (components of the information content). In general, the analyses indicate that both British and Japanese earnings announcements increase U.S. investors' level of informedness (i.e., decrease their level of uncertainty), and that British and Japanese earnings announcements have a greater impact on U.S. investors' level of informedness than on their degree of consensus.
Dissertation Abstracts International
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 590
Book Description
Abstracts of dissertations available on microfilm or as xerographic reproductions.
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 590
Book Description
Abstracts of dissertations available on microfilm or as xerographic reproductions.
Interim Information and the Information Content of Annual Earnings Announcements
Author: Edward Bradley Grant
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 296
Book Description
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 296
Book Description
International Journal of Forecasting
Author: International institute of forecasters
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Journal of Economic Literature
The International Journal of Accounting Education and Research
The Routledge Companion to Accounting, Reporting and Regulation
Author: Carien van Mourik
Publisher: Routledge
ISBN: 1136243496
Category : Business & Economics
Languages : en
Pages : 495
Book Description
Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Publisher: Routledge
ISBN: 1136243496
Category : Business & Economics
Languages : en
Pages : 495
Book Description
Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Developments in Financial Reporting by Multinationals
Author: Clare B. Roberts
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 616
Book Description
This volume is concerned with financial reporting issues resulting from the growth and spread of multinational corporations. The book consists of up-to-date readings from a broad range of international journals which look at, and evaluate, the financial accounting techniques adopted in different parts of the world for dealing with issues such as segment reporting, disclosure standards, financial reporting and stock markets. The final part deals with the reporting practices of individual companies over time. This insightful volume will be of value to researchers and practitioners alike.
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 616
Book Description
This volume is concerned with financial reporting issues resulting from the growth and spread of multinational corporations. The book consists of up-to-date readings from a broad range of international journals which look at, and evaluate, the financial accounting techniques adopted in different parts of the world for dealing with issues such as segment reporting, disclosure standards, financial reporting and stock markets. The final part deals with the reporting practices of individual companies over time. This insightful volume will be of value to researchers and practitioners alike.
British Documents on Foreign Affairs
Author: Antony Best
Publisher:
ISBN: 9781556557682
Category :
Languages : en
Pages : 376
Book Description
Publisher:
ISBN: 9781556557682
Category :
Languages : en
Pages : 376
Book Description
Bulletin of the Public Affairs Information Service
Author: Public Affairs Information Service
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 386
Book Description
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 386
Book Description