Investigating the Market reaction to Disclosure of Important Information

According to article #13 of information disclosure instruction for the firms listed in Tehran Stock Exchange, publishers are charged to disclose the important information immediately. This research investigates the market reactions to disclosure of the important information as mentioned article. Res...

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Autores principales:	Farzaneh Nasirzadeh, S. Ali Mousavi Gouki
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2017
Materias:	mandatory disclosure important information market reactions abnormal returns announcements Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/e06d52a983264bd49fac646931bd67c0
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spelling	oai:doaj.org-article:e06d52a983264bd49fac646931bd67c02021-11-04T19:53:13ZInvestigating the Market reaction to Disclosure of Important Information2008-89142476-292X10.22103/jak.2017.9830.2322https://doaj.org/article/e06d52a983264bd49fac646931bd67c02017-10-01T00:00:00Zhttps://jak.uk.ac.ir/article_1759_0018e2cb14be9cbe5eb8df506d487691.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XAccording to article #13 of information disclosure instruction for the firms listed in Tehran Stock Exchange, publishers are charged to disclose the important information immediately. This research investigates the market reactions to disclosure of the important information as mentioned article. Research method is event-study using content analysis. In this regard 213 announcements which published during 2010-2016 was investigated and categorized into 3 categories: Positive, Negative and Clarifier. In this research, Cumulative Abnormal Returns was measured for short-term windows of weekly (-1, +5), 5-days (-1, +3), 3-days (-1, +1), one day (announce day), 2-days (0 , -1) and weekly (-5, +1). The results show that the investors had a significant positive reaction to negative announcements before announce and no significant reaction after announce. Also, investors had a significant positive reaction to positive and clarifier announces.Farzaneh NasirzadehS. Ali Mousavi GoukiShahid Bahonar University of Kermanarticlemandatory disclosureimportant informationmarket reactionsabnormal returnsannouncementsAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 8, Iss 3, Pp 53-80 (2017)
institution	DOAJ
collection	DOAJ
language	FA
topic	mandatory disclosure important information market reactions abnormal returns announcements Accounting. Bookkeeping HF5601-5689
spellingShingle	mandatory disclosure important information market reactions abnormal returns announcements Accounting. Bookkeeping HF5601-5689 Farzaneh Nasirzadeh S. Ali Mousavi Gouki Investigating the Market reaction to Disclosure of Important Information
description	According to article #13 of information disclosure instruction for the firms listed in Tehran Stock Exchange, publishers are charged to disclose the important information immediately. This research investigates the market reactions to disclosure of the important information as mentioned article. Research method is event-study using content analysis. In this regard 213 announcements which published during 2010-2016 was investigated and categorized into 3 categories: Positive, Negative and Clarifier. In this research, Cumulative Abnormal Returns was measured for short-term windows of weekly (-1, +5), 5-days (-1, +3), 3-days (-1, +1), one day (announce day), 2-days (0 , -1) and weekly (-5, +1). The results show that the investors had a significant positive reaction to negative announcements before announce and no significant reaction after announce. Also, investors had a significant positive reaction to positive and clarifier announces.
format	article
author	Farzaneh Nasirzadeh S. Ali Mousavi Gouki
author_facet	Farzaneh Nasirzadeh S. Ali Mousavi Gouki
author_sort	Farzaneh Nasirzadeh
title	Investigating the Market reaction to Disclosure of Important Information
title_short	Investigating the Market reaction to Disclosure of Important Information
title_full	Investigating the Market reaction to Disclosure of Important Information
title_fullStr	Investigating the Market reaction to Disclosure of Important Information
title_full_unstemmed	Investigating the Market reaction to Disclosure of Important Information
title_sort	investigating the market reaction to disclosure of important information
publisher	Shahid Bahonar University of Kerman
publishDate	2017
url	https://doaj.org/article/e06d52a983264bd49fac646931bd67c0
work_keys_str_mv	AT farzanehnasirzadeh investigatingthemarketreactiontodisclosureofimportantinformation AT salimousavigouki investigatingthemarketreactiontodisclosureofimportantinformation
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Investigating the Market reaction to Disclosure of Important Information

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