Earnings Announcement Lags and Market Responses-Does the Tone of the News and the Market Sentiment Matter?

被引：2

作者：

Laidroo, Laivi ^{[1
]}

Joost, Joonas ^{[1
]}

机构：

[1] Tallinn Univ Technol, Sch Business & Governance, Dept Econ & Finance, Akad Tee 3, EE-12618 Tallinn, Estonia

来源：

EMERGING MARKETS FINANCE AND TRADE | 2018年 / 54卷 / 08期

关键词：

earnings announcements; market reaction; market sentiment; timing; AGGREGATE STOCK RETURNS; BAD-NEWS; DIVIDEND ANNOUNCEMENTS; CORPORATE DISCLOSURES; OWNERSHIP STRUCTURE; CAPITAL-MARKETS; REPORTING LAGS; INFORMATION; EXCHANGES; TIMELINESS;

D O I：

10.1080/1540496X.2017.1326028

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate earnings announcement lags (period from the end of the reporting period until the announcement date) for the good and the bad quarterly earnings news across different market sentiment periods as well as market reactions thereto. Companies listed on Baltic stock exchanges exhibit clear signs of strategic timing of earnings announcements. Earnings announcement lags for the bad news tend to be longer than those for the good news. This difference is more pronounced during low market sentiment periods. If the release of the bad news is postponed, abnormal return responses remain lower, as expected.

引用

页码：1886 / 1907

页数：22

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