The role of investor relations firms in financial restatements
This study examines the role of investor relations (IR) firms in the setting of financial restatements. I find that firms hiring an outside IR firm experience higher restatement announcement returns and they do not realize lower post-announcement stock returns than propensity-score matched control f...
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sg-ntu-dr.10356-691952024-01-12T10:32:37Z The role of investor relations firms in financial restatements Li, Lingwei Zhang Huai Nanyang Business School DRNTU::Business::Finance This study examines the role of investor relations (IR) firms in the setting of financial restatements. I find that firms hiring an outside IR firm experience higher restatement announcement returns and they do not realize lower post-announcement stock returns than propensity-score matched control firms. The positive impact of IR is greater for firms with low analyst coverage and low media coverage. My findings suggest that IR professionals increase value for their clients by helping them communicate effectively during periods of crises. DOCTOR OF PHILOSOPHY (NBS) 2016-11-22T06:15:18Z 2016-11-22T06:15:18Z 2016 Thesis Li, L. (2016). The role of investor relations firms in financial restatements. Doctoral thesis, Nanyang Technological University, Singapore. https://hdl.handle.net/10356/69195 10.32657/10356/69195 en 56 p. application/pdf |
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Nanyang Technological University |
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NTU Library |
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Asia |
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Singapore Singapore |
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NTU Library |
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English |
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DRNTU::Business::Finance |
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DRNTU::Business::Finance Li, Lingwei The role of investor relations firms in financial restatements |
| description |
This study examines the role of investor relations (IR) firms in the setting of financial restatements. I find that firms hiring an outside IR firm experience higher restatement announcement returns and they do not realize lower post-announcement stock returns than propensity-score matched control firms. The positive impact of IR is greater for firms with low analyst coverage and low media coverage. My findings suggest that IR professionals increase value for their clients by helping them communicate effectively during periods of crises. |
| author2 |
Zhang Huai |
| author_facet |
Zhang Huai Li, Lingwei |
| format |
Theses and Dissertations |
| author |
Li, Lingwei |
| author_sort |
Li, Lingwei |
| title |
The role of investor relations firms in financial restatements |
| title_short |
The role of investor relations firms in financial restatements |
| title_full |
The role of investor relations firms in financial restatements |
| title_fullStr |
The role of investor relations firms in financial restatements |
| title_full_unstemmed |
The role of investor relations firms in financial restatements |
| title_sort |
role of investor relations firms in financial restatements |
| publishDate |
2016 |
| url |
https://hdl.handle.net/10356/69195 |
| _version_ |
1789483228878340096 |