DocumentCode
1985120
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
fYear
2010
fDate
20-22 Aug. 2010
Firstpage
1
Lastpage
4
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;
fLanguage
English
Publisher
ieee
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
Type
conf
DOI
10.1109/ITAPP.2010.5566646
Filename
5566646
Link To Document