{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/22696"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/22696","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"The speed of security market reaction and the level of uncertainty associated with annual earnings information: Analysis and evidence","abstract":"U of I Only","abstract_html":"U of I Only","abstract_has_math":false,"creators":["Kim, Hwan"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Accountancy","degree_department":null,"school":null,"contributors":["McKeown, James C."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2011,"date_issued":"2011-05-07T13:48:24Z","date_published":"2011-05-07T13:48:24Z","updated_at":"2026-07-22T22:25:20Z","subjects":["Business Administration, Accounting","Economics, Finance"],"languages":["eng"],"rights":["Copyright 1990 Kim, Hwan"],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9026223","(UMI)AAI9026223"],"render_values":[{"text":"AAI9026223","href":null,"code":true},{"text":"(UMI)AAI9026223","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/22696","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["McKeown, James C."]},{"key":"dc:creator","label":"Author","values":["Kim, Hwan"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2011-05-07T13:48:24Z","10000-01-01","1990"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Accountancy"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Business Administration, Accounting","Economics, Finance"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 1990 Kim, Hwan"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9026223","(UMI)AAI9026223","http://hdl.handle.net/2142/22696"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["U of I Only","In this study, a model is introduced to explain the relation between the speed of market reaction to accounting earnings information and the precision of an individual's expectations prior to the earnings announcement. The model predicts that the relationship is negative. A method of estimating the duration period of the market reaction is developed, and forecasts from the Lynch, Jones and Ryan Institutional Brokers Estimate System (IBES) are used to proxy the individual's expectations. A parametric test is designed to examine the hypothesis. When the hypothesis is analyzed along with firm size, a consistent result is observed. That is, the prior precision for a larger firm tends to be greater than that for a smaller one, causing less need for information processing activity about the larger firm. Consequently, the market reacts more slowly to the release of the larger firm's annual earnings. By incorporating the individual's expectations into the model, it is believed that the research proposed herein will increase our understanding about one particular causal link between accounting information and market behavior.","Made available in DSpace on 2011-05-07T13:48:24Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9026223.pdf: 2468230 bytes, checksum: 44a9bb46e9da7d7b0d10ce1d4c305ce6 (MD5) Previous issue date: 1990","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:59:22Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:28:00-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission"]},{"key":"dc:title","label":"Title","values":["The speed of security market reaction and the level of uncertainty associated with annual earnings information: Analysis and evidence"]}]}],"canonical_facts":{"dc:contributor":["McKeown, James C."],"dc:creator":["Kim, Hwan"],"dc:date":["2011-05-07T13:48:24Z","10000-01-01","1990"],"dc:description":["U of I Only","In this study, a model is introduced to explain the relation between the speed of market reaction to accounting earnings information and the precision of an individual's expectations prior to the earnings announcement. The model predicts that the relationship is negative. A method of estimating the duration period of the market reaction is developed, and forecasts from the Lynch, Jones and Ryan Institutional Brokers Estimate System (IBES) are used to proxy the individual's expectations. A parametric test is designed to examine the hypothesis. When the hypothesis is analyzed along with firm size, a consistent result is observed. That is, the prior precision for a larger firm tends to be greater than that for a smaller one, causing less need for information processing activity about the larger firm. Consequently, the market reacts more slowly to the release of the larger firm's annual earnings. By incorporating the individual's expectations into the model, it is believed that the research proposed herein will increase our understanding about one particular causal link between accounting information and market behavior.","Made available in DSpace on 2011-05-07T13:48:24Z (GMT). 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