Title :
An Empirical Study of Market Reaction to Earnings Forecasts Revision
Author :
Hu Zhi-ying ; Li Chen-yu
Author_Institution :
Sch. of Manage. & Ecnomics, Univ. of Sci. & Technol. Beijing, Beijing, China
Abstract :
In this paper, we study the market reaction to the earnings forecasts revision. We find that the forecasts of earnings revisions have significant information content and the market is more sensitive to the firms who forecast bad news originally which manifest more in the revision to the opposite direction. Additionally, this view is attested by the CAR for different windows length.
Keywords :
financial management; forecasting theory; CAR; earnings forecasts revision; information content; market reaction; Book reviews; Business; Educational institutions; Grasping; Stock markets; Training;
Conference_Titel :
Internet Technology and Applications, 2010 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-5142-5
Electronic_ISBN :
978-1-4244-5143-2
DOI :
10.1109/ITAPP.2010.5566646
