Harnessing media attention: Strategic corporate press releases and media coverage around earnings announcements
| 主讲人 |
Wai-Man (Raymond) LIU |
简介 |
<p>Abstract: We document that firms are 80% more likely to issue non-earnings press releases during the earnings announcement period when delivering extremely negative earnings news. Non-earnings press releases are insufficient to improve negative announcement returns in isolation. However, if the media covers the non-earnings press release, announcement returns increase by about 6% followed by a partial reversal. Our results suggest that while the non-earnings press releases are value relevant, investors tend to overreact to the media reporting of the non-earnings news. These valuation effects are concentrated in small firms.</p> |
| 时间 |
2015-01-06(星期二)16:30-18:00 |
地点 |
N303 经济楼/Economics Building |
| 讲座语言 |
English |
主办单位 |
WISE-SOE |
| 承办单位 |
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类型 |
系列讲座 |
| 联系人信息 |
|
主持人 |
Peilin Hsieh (WISE) |
| 专题网站 |
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专题 |
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| 主讲人简介 |
<p>Senior Lecturer in Finance</p>
<div>Research School of Finance, Actuarial Studies & Applied Statistics</div>
<div>Australian National University</div>
<div> </div>
<div><a href="/EventsMgr/Upload/File/2014/12/201412220704142.pdf">Prof. Wai-Man (Raymond) LIU' CV</a></div> |
期数 |
“WISE-SOE”2014秋季学期“高级经济学系列讲座”第十八讲（总第339讲）--金融领域 |
