Information Content in the IPO Offer Price: Empirical Evidence

2011 ◽  
Author(s):  
Taufique Samdani
Keyword(s):  
Empirical Evidence ◽  
Information Content

scholarly journals Evidence on why firms use different disclosure outlets

2016 ◽  
Vol 29 (3) ◽  
pp. 274-291
Author(s):  
Alexey Feigin ◽  
Andrew Ferguson ◽  
Matthew Grosse ◽  
Tom Scott
Keyword(s):  
Empirical Evidence ◽  
Information Content ◽  
Information Acquisition ◽  
Voluntary Disclosure ◽  
Abnormal Return ◽  
Design Methodology ◽  
Small Subset ◽  
Market Reactions ◽  
Content Type ◽  
Acquisition Costs

Purpose The purpose of this study is to consider why firms use different disclosure outlets. The authors argue that the firm's choice of disclosure outlet can be explained by voluntary disclosure theories and investigate whether the market response around different disclosure outlets varies. Design/methodology/approach The authors investigate differences in the characteristics of firms purchasing analyst research, holding investor presentations or Open Briefings and compare market reactions around each disclosure event. Findings The authors find that firm incentives to reduce information acquisition costs or mitigate disclosure risk affect firm disclosure outlet choice, and mixed evidence in support of talent signalling motivations. There is a lower absolute abnormal return around Open Briefings and a higher signed abnormal return around purchased analyst research. Research limitations/implications The research is exploratory in nature and only considers a small subset of disclosure outlets. There may be differences in information content across disclosure outlets. Originality/value They show disclosure outlets are not homogenous and provide empirical evidence voluntary disclosure theories help explain differences between firms’ use of disclosure outlets. Considering the growing number of disclosure outlets available, disclosure outlet choice is likely to be an increasingly important topic in accounting research.

scholarly journals The impact of IAS 36 on equity values: Empirical evidence from UAE

2016 ◽  
Vol 13 (2) ◽  
pp. 49-54
Author(s):  
Yousef Shahwan ◽  
Jamal Roudaki
Keyword(s):  
Empirical Evidence ◽  
Information Content ◽  
Financial Reporting ◽  
Market Valuation ◽  
Controversial Issues ◽  
Equity Values ◽  
Market Values ◽  
Equity Value ◽  
The Impact

Amortization requirement of goodwill asset is one of the most controversial issues in financial reporting. This study provides empirical evidence on whether goodwill amortization has significant impact on equity value. It analyses the information content of goodwill amortization in the determination of firm’s market valuation by Emirates Financial Market Listed companies that clearly reported goodwill amortization over the period 2003 to 2012 inclusive. Evidence suggests that there is a statistically significant association between equity market values and goodwill amortization in the determination of firms’ market valuation, concluding that the UAE market perceives goodwill amortization as having information content when valuing firms and the use of standardized amortization requirement may be appropriate.

scholarly journals Information content of advertising: Empirical evidence from the OTC analgesic industry

2013 ◽  
Vol 31 (5) ◽  
pp. 355-367 ◽  
Author(s):  
Simon P. Anderson ◽  
Federico Ciliberto ◽  
Jura Liaukonyte
Keyword(s):  
Empirical Evidence ◽  
Information Content

scholarly journals EPS Reporting Revisited: An Evaluation Of Proposed Changes

2011 ◽  
Vol 8 (2) ◽  
pp. 25
Author(s):  
Scott I. Jerris
Keyword(s):  
Empirical Evidence ◽  
Information Content ◽  
Recent Article ◽  
Earnings Per Share ◽  
Accounting Principles

In 1969 the Accounting Principles Board issued Opinion No. 15, Earnings Per Share, requiring firms with complex capital structures to disclose primary and fully diluted earnings per share. A recent article by Mautz and Hog the treasury stock method used in the computation of primary and fully-diluted earnings, and the three percent materiality standard. The purpose of this paper is to evaluate these proposed changes by examining empirical evidence from studies investigating conversion predictability and the information content of earnings.

Regulatory Issues in Outdoor Advertising: A Content Analysis of Billboards

1994 ◽  
Vol 13 (1) ◽  
pp. 97-107 ◽  
Author(s):  
Charles R. Taylor ◽  
John C. Taylor
Keyword(s):  
Content Analysis ◽  
Empirical Evidence ◽  
Information Content ◽  
Small Businesses ◽  
Outdoor Advertising ◽  
Tobacco Products ◽  
Current Regulation ◽  
Regulatory Issues

The regulation of outdoor advertising has been subject to continued controversy. Although many arguments have been made both for and against restrictive regulation of billboards, the focus of these arguments seldom has been on the content of the billboards themselves. The authors use a content analysis of a sample of over 700 Michigan billboards to provide empirical evidence on issues that are central to assessing the regulation of outdoor advertising. Data collected on the information content of billboards, prevalence of billboards for alcohol and tobacco products, and prevalence of billboards for small businesses suggest that current regulation of the outdoor industry has been effective.

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