Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 10 of 10 for “"Earnings Surprise"”.
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Implications of Sticky Cost Behavior for Earnings Surprise and Market Reaction
… and cost stickiness can provide more accurate earnings forecasts, analysts and investors cannot fully capture sticky cost information. Since analysts are not fully aware of the correct cost behavior model, earnings surprises can be largely explained by a cost model that recognizes sticky …
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Bears and numbers : investigating whether short-sellers exploit accounting-based pricing anomalies
… whether short-sellers (bears) exploit post-earnings-announcement-drift (PEAD) and the accruals anomaly. I first find that short interest is higher during the period that follows a negative earnings surprise and, to a lesser extent, the announcement of earnings that contains an abnormal …
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INTRAINDUSTRY INFORMATION TRANSFERS: AN ANALYSIS OF CONFIRMATORY AND CONTRADICTORY EARNINGS NEWS
… intraindustry information transfers finds that earnings announcements are information events not only for the announcing firm but also for others in the industry. This paper adds to this literature by investigating whether the informativeness of a firm’s earnings surprise is conditional on the …
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An empirical test of the relationship between gains/losses on disposal of discontinued operations arising from spin-offs and stock prices based on the extended functional fixation hypothesis
… examining the stock price reaction to quarterly earnings announcements of firms which have undergone spin-offs since K-IFRS was adopted. On the financial performance announcement date, the firm's stock price is theoretically affected by the difference between the real earnings and the expected …
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Probability of informed trading around scheduled and unscheduled corporate announcements
… offer premium (takeover announcements) and earnings surprises (earnings announcements). We first focus on unscheduled takeover announcements. Our results show that PI (and bid/ask spread) is significantly higher in the pre-announcement period compared to that in the post-announcement period. …
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Probability of informed trading around scheduled and unscheduled corporate announcements
… offer premium (takeover announcements) and earnings surprises (earnings announcements). We first focus on unscheduled takeover announcements. Our results show that PI (and bid/ask spread) is significantly higher in the pre-announcement period compared to that in the post-announcement period. …
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An Empirical Investigation of the Effects of Earnings Predictability and Auditor-Client Relationships on the Bond Credit Market
… market. The first study examines the effect earnings predictability has on both the initial bond rating and the initial pricing of the issue. Earnings predictability is measured as (1) the annual earnings surprise (actual minus analyst forecast) and (2) the dispersion of initial analyst …
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Two Essays on Ownership and Market Characteristics
… ownership on price discovery around earnings announcements. I select earnings announcements as the event for my analysis because there are three well-documented regularities about earnings announcements. First, market participants anticipate the forthcoming earnings announcements. …
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Analyzing Volatility and Policy Changes in the Financial Market: Three Essays in Applied Finance
… been documented before; investors' reactions to earnings announcements are not only asymmetric, but seasonal. Knowing which months experience larger variation than others, investors may incorporate financial derivatives such an options to hedge downside risk. Using a fixed effects linear …
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The effects of the unexpected cautionary and annual earnings announcements on the Price Formation Process: evidence from the JSE
… security market portfolio, i.e., expected future earnings. The occurrence of ‘unexpected earnings' creates an expectation of above ‘true' market portfolio returns, i.e., abnormal returns (ARs). This study is premised on the appreciation and understanding of the manifestation of a ‘true' single …