The Opportunistic Reporting of Material Events and the Apparent Misconception of Investors' Reaction

• Main Authors: SEGAL, Dan, Segal, Benjamin
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2013
• 主題: SEC Regulation; Form 8-K; Voluntary disclosure; Mandatory disclosure; Accounting; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/1054; https://ink.library.smu.edu.sg/context/soa_research/article/2053/viewcontent/Strategic_Dec_2012.pdf
• 機構: Singapore Management University

Using a comprehensive sample of non-earnings 8-K filings from 1996 to 2011, we examine whether firms engage in opportunistic reporting of mandatory and voluntary news. We find strong evidence of opportunistic reporting of negative news, especially among public firms. Public firms are more likely to...