Intra-industry transfer of information inferred from trading volume

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F20%3A00532505" target="_blank" >RIV/67985998:_____/20:00532505 - isvavai.cz</a>
Result on the web
<a href="https://www.cerge-ei.cz/pdf/wp/Wp663.pdf" target="_blank" >https://www.cerge-ei.cz/pdf/wp/Wp663.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Intra-industry transfer of information inferred from trading volume
Original language description
This study examines the responsiveness of trading volume to a firm’s earnings announcements. We find that the volume and earnings surprise information generated at the first earnings announcement within an industry help to explain the stock returns of the non-announcing firm. Specifically, it explains their equity performance at the time of the first industry announcement and then again after their own earnings announcement. These results provide novel insights into how earnings announcements contain both firm specific as well as industry information that is value relevant for investors.
Czech name
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Czech description
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Project
<a href="/en/project/GA16-20451S" target="_blank" >GA16-20451S: International Governance: Revisited</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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