AN EARNINGS PREDICTION-APPROACH TO EXAMINING INTERCOMPANY INFORMATION TRANSFERS

被引：96

作者：

FREEMAN, R ^{[1
]}

TSE, S ^{[1
]}

机构：

[1] UNIV TEXAS,DEPT ACCOUNTING,CBA 4M202,AUSTIN,TX 78712

来源：

JOURNAL OF ACCOUNTING & ECONOMICS | 1992年 / 15卷 / 04期

关键词：

D O I：

10.1016/0165-4101(92)90004-L

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We assess potential information transfers by examining the association between the earnings announcements of early and late announcers in an industry. Our earnings prediction models are statistically significant much more frequently than would be expected by chance. The models suggest potential positive information transfers on average, but there is substantial cross-industry variation in the strength of this relation. We find that the greatest price reactions by nonannouncers to same-industry earnings announcements occur in industries with the greatest earnings comovement.

引用

页码：509 / 523

页数：15

共 10 条

[1] EVIDENCE THAT STOCK-PRICES DO NOT FULLY REFLECT THE IMPLICATIONS OF CURRENT EARNINGS FOR FUTURE EARNINGS [J].