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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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
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| Subjects: | |
| 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 |