TTÜ majandusanalüüsi ja rahanduse instituut kutsub teadusseminarile
TTÜ majandusanalüüsi ja rahanduse instituut kutsub teadusseminarile 8. veebruaril kell 15.45-17.00 ruumi SOC-214.
Ettekandega esineb Laivi Laidroo Tallinna Tehnikaülikoolist. Kaasautoriks on Joonas Joost.
"Earnings Announcement Lags and Market Responses – Does the Tone of the News and the Market Sentiment Matter?"
Kokkuvõte inglise keeles:
Earnings announcement lags capture the time period between the end of the reporting period and the announcement date. This paper investigates earnings announcement lags for the good and the bad quarterly earnings news across different market sentiment periods as well as market reactions thereto. The focus is on companies listed on three Baltic stock exchanges during 2001-2015. In line with expectations, there exist clear signs of strategic timing of earnings announcements. Earnings announcement lags for the bad news tend to be longer than those for the good news. This difference is more pronounced during low market sentiment periods due to significantly shorter earnings announcement lags for the good news. If the release of the bad news is postponed, abnormal return responses remain lower, as expected. This indicates that the timing decisions of managers may influence investors’ responses and some steps should be taken to reduce such possibilities.
Seminar toimub inglise keeles. Osalema oodatakse kõiki huvilisi.
Lisainfo: Karsten Staehr, karsten dot staehr at ttu dot ee