Management Forecast Credibility and Underreaction to News

Management Forecast Credibility and Underreaction to News

In this paper, we first document evidence of underreaction to management forecast news. We then hypothesize that the credibility of the forecast influences the magnitude of this underreaction. Relying on evidence that more credible forecasts are associated with a larger reaction in the short window...

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Bibliographic Details
Main Authors: NG, Jeffrey, Tuna, Irem, Verdi, Rodrigo
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2013
Subjects:
Market efficiency
Credibility
Voluntary disclosure
Accounting
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/soa_research/951
https://ink.library.smu.edu.sg/context/soa_research/article/1950/viewcontent/SSRN_id930697.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soa_research/951
https://ink.library.smu.edu.sg/context/soa_research/article/1950/viewcontent/SSRN_id930697.pdf

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