How important are earnings announcements as an information source?

• Main Authors: Basu, Sudipta, Duong, Truong, Markov, Stanimir, Tan, Eng Joo
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2013
• 主題: earnings information arrival days; conditional information content; information monopoly; incremental information; Corporate Finance; Portfolio and Security Analysis
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/2962; https://ink.library.smu.edu.sg/context/lkcsb_research/article/3961/viewcontent/SSRN_id1616466.pdf

In a competitive information market, no single information source is likely to dominate all other sources collectively, but a single source can dominate all or most other sources individually. We explore whether earnings announcements constitute such a dominant source using Ball and Shivakumar’s R2...