The aim of this research was to determine the impact of voluntary information disclosure on informational content of share price. In this regard, future earnings response coefficient was used to determine the informational content of the share price about the future income information. Furthermore, share price synchronicity was used to evaluate the informational content of the share price about...

full, on-time, and with quality disclosure of financial information can lead to the transparency of such information and decreases information asymmetry. among the published information of firms, earnings are of priority importance attended by many users; therefore, the issue of the transparency of accounting earnings is of high importance. the aim of this study is investigating the accounting ...

The purpose of this article is to examine whether the legal obligation for Belgian listed companies to release annually their earnings is still useful in markets where the quantity of information already present is important. A sample of 108 earnings releases between January 1997 and June 1999 by Belgian companies listed on the First Market of the Brussels Stock Exchange has been analysed. The ...

The backlash avoidance model (BAM) suggests women insufficiently self-promote because they fear backlash for behavior which is incongruent with traditional gender roles. Avoiding self-promoting behavior is also potentially related to associating success with negative consequences. In two studies we tested whether self-promotion and fear of success will be predictors of lower salaries and antici...

Behavioral Finance aims to explain empirical anomalies by introducing investor psychology as a determinant of asset pricing. This study provides strong evidence that anomalous stock price behavior following earnings announcements is due to a representativeness bias. It investigates current and past earnings surprises and subsequent market reaction for listed US companies over the period 1983-19...

One of the most important issues in corporate finance is whether dividend changes contain information about future earnings and profitability. Although dividend signaling theories imply that dividend increases signal better prospects (e.g., Bhattacharya 1979; John and Williams 1985; andMiller and Rock 1985), many empirical studies have failed to support this idea. Studies by Watts (1973), Goned...

In this paper we show that measures of economic uncertainty (conditional volatility of consumption) predict and are predicted by valuation ratios at long horizons. Further we document that asset valuations drop as economic uncertainty rises — that is, financial markets dislike economic uncertainty. Moreover, future earnings growth rates are sharply predicted by current price-earnings ratios. It...

In fundamental analysis, it is customary to interpret an increase in the ratio of selling, general, and administrative costs to sales (the SG&A cost ratio) between two periods as a negative signal about future profitability and firm value. Implicit in this interpretation is an expectation that SG&A costs should normally move proportionately with increases or decreases in revenues, and that an i...

Future earnings indicate whether the trend of is increasing or decreasing in future a business. It beneficial to investors and users analysis planning investments. Consequently, this study aimed identify patterns from financial statements on Stock Exchange Thailand. We proposed novel approach based FP-Growth ECLAT algorithms with optimized discretization associated patterns. The are easy use in...