کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7356495 | 1478283 | 2018 | 68 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
It pays to partner with a firm that writes annual reports wellâ°
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We use strategic alliances as a setting to examine whether the readability of a firm's partner's 10-K matters. We find that the increase in the cumulative abnormal return (CAR) around the announcement of an alliance is relatively lower when the firm's partner in a strategic alliance has a less readable 10-K report. Additional tests show that the impact of the readability of a partner's 10-K is much stronger when investors suspect insufficient due diligence before the alliance's formation, when the partner is from a different industry, and when the alliance occurs before the Sarbanes-Oxley Act. Overall, our results show that the readability of a partner's annual report matters-it pays to partner with a firm that writes these reports well.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 92, July 2018, Pages 13-34
Journal: Journal of Banking & Finance - Volume 92, July 2018, Pages 13-34
نویسندگان
Mufaddal Baxamusa, Abu Jalal, Anand Jha,