کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5087081 1478202 2007 28 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Earnings announcement premia and the limits to arbitrage
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Earnings announcement premia and the limits to arbitrage
چکیده انگلیسی

We examine the factors underlying the presence of earnings announcement premia. We find that the premia persist beyond the sample period examined in prior studies (ending in 1988), although they decline in magnitude after 1988. Further, premia are lower on the expected than the actual earnings announcement dates. We document that increases in voluntary disclosures result in lower premia, despite the increase in return volatility over time. Finally, our evidence suggests that the premia are not completely eliminated because of the costs of arbitrage.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Economics - Volume 43, Issues 2–3, July 2007, Pages 153-180
نویسندگان
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