Is there information in an earnings announcement delay?

被引：32

作者：

Begley J.O.Y. ^{[1
]}

Fischer P.E. ^{[2
]}

机构：

[1] Faculty of Commerce and Business Administration, 2053 Main Mall, University of British Columbia, Vancouver

[2] Wharton School, University of Pennsylvania

来源：

Review of Accounting Studies | 1998年 / 3卷 / 4期

关键词：

Abnormal Return; Forecast Error; Good News; Earning Announcement; Late Relation;

D O I：

10.1023/A:1009635117801

中图分类号：

学科分类号：

摘要：

Using a sample of announcements drawn from the 1980s and early 1990s, we reassess the relation between earnings news and earnings announcement timing. Using analyst forecast errors to proxy for news, we find that early announcements are associated with good news relative to late announcements. The relation between news and timing, however, does not appear to be strictly monotonie. Furthermore, we find that unexpected earnings explain 4% or less of the variation in timing. Finally, we assess whether abnormal returns behave in a manner that is consistent with a good news early, bad news late relation. © 1998 Kluwer Academic Publishers.

引用

页码：347 / 363

页数：16

共 18 条

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