The Timing of Corporate Earnings Announcements

Beginning with Patell and Wolfson (1982), several papers have documented that earnings announcements made on weeks’ last day tend to contain worse earnings news than those made at other week days. One hypothesis is that opportunistic managers release earnings at times of decreased media attention t...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Mohammad Hossein Ghaemi, Hassan Jahanfar, Faramarz Rezaei
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2013
Materias:	earnings surprises good news bad news strategic disclosure hypothesis earnings announcement Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/f41b2c33794740268bc0848c0a5cfa20
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:f41b2c33794740268bc0848c0a5cfa20
record_format	dspace
spelling	oai:doaj.org-article:f41b2c33794740268bc0848c0a5cfa202021-11-04T19:43:22ZThe Timing of Corporate Earnings Announcements2008-89142476-292X10.22103/jak.2013.505https://doaj.org/article/f41b2c33794740268bc0848c0a5cfa202013-02-01T00:00:00Zhttps://jak.uk.ac.ir/article_505_6164c6774d53505dfb2d9de37051cf9d.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XBeginning with Patell and Wolfson (1982), several papers have documented that earnings announcements made on weeks’ last day tend to contain worse earnings news than those made at other week days. One hypothesis is that opportunistic managers release earnings at times of decreased media attention to hide their bad news and reduce the associated market penalty. Using firm-level tests that focus on those firms that switch their disclosure timing to weeks’ last day (rather than reporting at other week days), we find no evidence that managers in Tehran Stock Exchange opportunistically report worse news on weeks’ last day, using data from 4000 disclosure timing in 2001 to 2009. We, then, examined other determinants of timing decision (including percentage of free and floating stocks, complexity and size of firm and industry membership as explanatory variables for timing decision), using a logistic regression model. The results showed that only the percentage of free and floating stocks have effects on timig decision.Mohammad Hossein GhaemiHassan JahanfarFaramarz RezaeiShahid Bahonar University of Kermanarticleearnings surprisesgood newsbad newsstrategic disclosure hypothesisearnings announcementAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 3, Iss 11, Pp 85-104 (2013)
institution	DOAJ
collection	DOAJ
language	FA
topic	earnings surprises good news bad news strategic disclosure hypothesis earnings announcement Accounting. Bookkeeping HF5601-5689
spellingShingle	earnings surprises good news bad news strategic disclosure hypothesis earnings announcement Accounting. Bookkeeping HF5601-5689 Mohammad Hossein Ghaemi Hassan Jahanfar Faramarz Rezaei The Timing of Corporate Earnings Announcements
description	Beginning with Patell and Wolfson (1982), several papers have documented that earnings announcements made on weeks’ last day tend to contain worse earnings news than those made at other week days. One hypothesis is that opportunistic managers release earnings at times of decreased media attention to hide their bad news and reduce the associated market penalty. Using firm-level tests that focus on those firms that switch their disclosure timing to weeks’ last day (rather than reporting at other week days), we find no evidence that managers in Tehran Stock Exchange opportunistically report worse news on weeks’ last day, using data from 4000 disclosure timing in 2001 to 2009. We, then, examined other determinants of timing decision (including percentage of free and floating stocks, complexity and size of firm and industry membership as explanatory variables for timing decision), using a logistic regression model. The results showed that only the percentage of free and floating stocks have effects on timig decision.
format	article
author	Mohammad Hossein Ghaemi Hassan Jahanfar Faramarz Rezaei
author_facet	Mohammad Hossein Ghaemi Hassan Jahanfar Faramarz Rezaei
author_sort	Mohammad Hossein Ghaemi
title	The Timing of Corporate Earnings Announcements
title_short	The Timing of Corporate Earnings Announcements
title_full	The Timing of Corporate Earnings Announcements
title_fullStr	The Timing of Corporate Earnings Announcements
title_full_unstemmed	The Timing of Corporate Earnings Announcements
title_sort	timing of corporate earnings announcements
publisher	Shahid Bahonar University of Kerman
publishDate	2013
url	https://doaj.org/article/f41b2c33794740268bc0848c0a5cfa20
work_keys_str_mv	AT mohammadhosseinghaemi thetimingofcorporateearningsannouncements AT hassanjahanfar thetimingofcorporateearningsannouncements AT faramarzrezaei thetimingofcorporateearningsannouncements AT mohammadhosseinghaemi timingofcorporateearningsannouncements AT hassanjahanfar timingofcorporateearningsannouncements AT faramarzrezaei timingofcorporateearningsannouncements
_version_	1718444687618998272

The Timing of Corporate Earnings Announcements

Ejemplares similares