Intra-industry transfer of information inferred from trading volume

Kód výsledku v 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>
Výsledek na webu
<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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Jazyk výsledku
angličtina
Název v původním jazyce
Intra-industry transfer of information inferred from trading volume
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
Intra-industry transfer of information inferred from trading volume
Popis výsledku anglicky
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.

Projekt
<a href="/cs/project/GA16-20451S" target="_blank" >GA16-20451S: Správa a řízení společností v mezinárodním prostředí - Nové poznatky</a><br>
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění
2020
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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