Market Reaction to the Timing of EPS Forecast
This study investigates how the market reacts to a negative revision of management earnings forecast (bad news) and late announcement of this news. The study spans the period of 2004 (AHS) to 2011. The linear multivariate regressions have been used to test the hypotheses. We found that market react...
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| Format: | Article |
| Language: | fas |
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Alzahra University
2015-09-01
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| Series: | پژوهشهای تجربی حسابداری |
| Subjects: | |
| Online Access: | http://jera.alzahra.ac.ir/article_647_85a2631a3b37b90be55507f1d009c125.pdf |
| _version_ | 1811200236126732288 |
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| author | Daryush Forooghi Sayed Saeed Mehrdad Ayask |
| author_facet | Daryush Forooghi Sayed Saeed Mehrdad Ayask |
| author_sort | Daryush Forooghi |
| collection | DOAJ |
| description | This study investigates how the market reacts to a negative revision of management earnings forecast (bad news) and late announcement of this news. The study spans the period of 2004 (AHS) to 2011. The linear multivariate regressions have been used to test the hypotheses. We found that market reacts negatively to bad news but late news are followed by a positive market reaction. Also, there is no difference in market reaction to late and on time bad news. But late announcement of good news is followed by a positive differential reaction, as compared to on-time announcement of it. |
| first_indexed | 2024-04-12T02:00:09Z |
| format | Article |
| id | doaj.art-49a434e2db7646d8b3005bfa0fe61252 |
| institution | Directory Open Access Journal |
| issn | 2251-8509 2538-1520 |
| language | fas |
| last_indexed | 2024-04-12T02:00:09Z |
| publishDate | 2015-09-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | پژوهشهای تجربی حسابداری |
| spelling | doaj.art-49a434e2db7646d8b3005bfa0fe612522022-12-22T03:52:41ZfasAlzahra Universityپژوهشهای تجربی حسابداری2251-85092538-15202015-09-015113916210.22051/jera.2015.647647Market Reaction to the Timing of EPS ForecastDaryush Forooghi0Sayed Saeed Mehrdad Ayask1استادیار حسابداری دانشگاه اصفهاندانشجو دکتری حسابداری دانشگاه اصفهانThis study investigates how the market reacts to a negative revision of management earnings forecast (bad news) and late announcement of this news. The study spans the period of 2004 (AHS) to 2011. The linear multivariate regressions have been used to test the hypotheses. We found that market reacts negatively to bad news but late news are followed by a positive market reaction. Also, there is no difference in market reaction to late and on time bad news. But late announcement of good news is followed by a positive differential reaction, as compared to on-time announcement of it.http://jera.alzahra.ac.ir/article_647_85a2631a3b37b90be55507f1d009c125.pdfmanagement earnings forecastmarket reactiongood newsBad Newslate announcement |
| spellingShingle | Daryush Forooghi Sayed Saeed Mehrdad Ayask Market Reaction to the Timing of EPS Forecast پژوهشهای تجربی حسابداری management earnings forecast market reaction good news Bad News late announcement |
| title | Market Reaction to the Timing of EPS Forecast |
| title_full | Market Reaction to the Timing of EPS Forecast |
| title_fullStr | Market Reaction to the Timing of EPS Forecast |
| title_full_unstemmed | Market Reaction to the Timing of EPS Forecast |
| title_short | Market Reaction to the Timing of EPS Forecast |
| title_sort | market reaction to the timing of eps forecast |
| topic | management earnings forecast market reaction good news Bad News late announcement |
| url | http://jera.alzahra.ac.ir/article_647_85a2631a3b37b90be55507f1d009c125.pdf |
| work_keys_str_mv | AT daryushforooghi marketreactiontothetimingofepsforecast AT sayedsaeedmehrdadayask marketreactiontothetimingofepsforecast |