Event Day 0? After-Hours Earnings Announcements

被引：85

作者：

Berkman, Henk ^{[1
]}

Truong, Cameron ^{[2
]}

机构：

[1] Massey Univ, Dept Commerce, Palmerston North, New Zealand

[2] Univ Auckland, Sch Business & Econ, Auckland 1, New Zealand

来源：

JOURNAL OF ACCOUNTING RESEARCH | 2009年 / 47卷 / 01期

关键词：

PRICES FULLY REFLECT; FUTURE EARNINGS; CORPORATE DISCLOSURES; BAD-NEWS; INFORMATION; RETURNS; ASYMMETRY; ARBITRAGE; INVESTOR; REVENUE;

D O I：

10.1111/j.1475-679X.2008.00312.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In recent years, the proportion of after-hours earnings announcements has increased to more than 40%. For after-hours announcements, earnings-related volume and price changes are not observed on the Compustat or I/B/E/S earnings announcement date, but one trading day later. This study demonstrates the importance of accounting for after-hours announcements for event studies around earnings announcements.

引用

页码：71 / 103

页数：33

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