Stock Price and Analyst Earnings Forecast around Product Recall Announcements
نویسندگان
چکیده
منابع مشابه
Analyst Forecast Dispersion and Aggregate Stock Returns
This paper shows a positive relation between analyst forecast dispersion and future aggregate stock returns, significant and robust. The innovations in forecast dispersions are negatively associated with contemporaneous aggregate returns and changes in discount rates. Decomposing forecast dispersion into “uncertainty” and “information asymmetry” components, I find that the “uncertainty” compone...
متن کاملProduct competitiveness and beating analyst earnings target
While Wall Street closely watches financial analysts’ earnings forecasts, Main Street often scrutinizes product quality relative to competition. Do firms with superior product competitiveness enjoy greater likelihood of beating analyst earnings target? And if so, is there contingency in this impact? We show that positive changes in product competitiveness contribute to the firm’s likelihood of ...
متن کاملAnticipating Uncertainty: Straddles Around Earnings Announcements
On average, straddles on individual stocks earn significantly negative returns: daily holding period return is -0.19% and weekly holding period return is -2.09%. In sharp contrast, straddle returns are significantly positive around earnings announcements: average at-the-money straddle returns from one day before earnings announcement to the earnings announcement date yields a highly significant...
متن کاملManagement Earnings Forecasts and Value of Analyst Forecast Revisions
Prior studies evaluate the relative importance of the sources of value that financial analysts bring to the market based on the price impact of forecast revisions over the event time. We find that management earnings forecasts influence the timing and precision of analyst forecasts. More importantly, evidence suggests that prior studies’ finding of weaker (stronger) stock-price responses to for...
متن کاملStock Returns and Trading Activity Around Earnings Announcements for Chinese A-Shares
This study examines annual earnings announcements for Chinese A-shares, a market dominated by retail investors where short selling is prohibited. We document a significant tendency for A-share prices to increase on the days, both, before and after the earnings announcement date. In contrast, we find a significant tendency for A-share prices to decline on the day of the announcement, immediately...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Economics and Finance
سال: 2013
ISSN: 1916-9728,1916-971X
DOI: 10.5539/ijef.v5n6p1