학술논문
The Association between Earnings News and The Timing of Annual Earnings Announcements
이용수 31
- 영문명
- 발행기관
- People & Global Business Association
- 저자명
- Dong-Kyoon Kim Myung-soo Son
- 간행물 정보
- 『Global Business and Finance Review』Vol.19 No.2, 19~34쪽, 전체 16쪽
- 주제분류
- 경제경영 > 경영학
- 파일형태
- 발행일자
- 2014.12.31
4,720원
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국문 초록
영문 초록
This study examines whether managers exercise discretion in the timing of annual earnings announcements depending on the magnitude of unexpected earnings. We find a non-linear association between the timing of the earnings announcement and the amount of unexpected earnings. Specifically, managers tend to delay annual earnings announcements as the news becomes worse (better) in negative (positive) unexpected earnings. We also find that market returns on the magnitude of earnings surprises (Earnings Response Coefficient) are greater with the timely announcement of earnings only when firms miss their expected earnings.
목차
Ⅰ. Introduction
Ⅱ. Literature Review and Research Questions
Ⅲ. Research Design
Ⅳ. Empirical Results
Ⅴ. Conclusion
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