The Relative Option to Stock Volume (OS) and Market Response to Earnings Surprises

2014 ◽  
Author(s):  
Atul Rai ◽  
Semih Tartaroglu
Keyword(s):  
Market Response ◽  
Earnings Surprises ◽  
Stock Volume

scholarly journals Does The Market React Differently To Chaebol Firms?

2014 ◽  
Vol 30 (5) ◽  
pp. 1525
Author(s):  
Heejin Park ◽  
Jinsoo Kim ◽  
Mihye Ha ◽  
Sambock Park
Keyword(s):  
Stock Prices ◽  
Market Response ◽  
Earnings Surprises ◽  
Negative Earnings

<p class="EEH2">Based on a sample of Korean firms listed on the KOSPI and KOSDAQ from 2001 to 2011, we examined whether the affiliation of a firm with a Chaebol group affects the sensitivity of stock prices to earnings surprises. We found that the market response to positive (negative) earnings surprises is more positive (negative) for Chaebol firms than for non-Chaebol firms. In addition, we investigated how intra-group transactions affect the ERCs of Chaebol firms by comparing with those of non-Chaebol firms. Our results show that the intra-group transactions of Chaebol firms are positively related to ERCs under both positive and negative earnings surprises. However, we did not find the same results from the analyses of non-Chaebol firms.</p>

Cost Behavior and Analysts’ Earnings Forecasts

2010 ◽  
Vol 85 (4) ◽  
pp. 1441-1471 ◽  
Author(s):  
Dan Weiss
Keyword(s):  
Management Accounting ◽  
Earnings Forecasts ◽  
Research Topic ◽  
Financial Accounting ◽  
Market Response ◽  
Earnings Surprises ◽  
Cost Behavior ◽  
Asymmetric Cost ◽  
Cost Stickiness ◽  
Asymmetric Cost Behavior

ABSTRACT: This study examines how firms’ asymmetric cost behavior influences analysts’ earnings forecasts, primarily the accuracy of analysts’ consensus earnings forecasts. Results indicate that firms with stickier cost behavior have less accurate analysts’ earnings forecasts than firms with less sticky cost behavior. Furthermore, findings show that cost stickiness influences analysts’ coverage priorities and investors appear to consider sticky cost behavior in forming their beliefs about the value of firms. This study integrates a typical management accounting research topic, cost behavior, with three standard financial accounting topics (namely, accuracy of analysts’ earnings forecasts, analysts’ coverage, and market response to earnings surprises).

The Determinants of Merger Withdrawals’ Abnormal Returns in The Australian Market

2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy
Keyword(s):  
Financial Crisis ◽  
Event Study ◽  
Abnormal Returns ◽  
Market Response ◽  
Crisis Period ◽  
Valuation Effects ◽  
Event Study Method ◽  
Private And Public ◽  
Method Of Payment ◽  
The Impact

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.

Modeling Market Response: Trends and Developments

Marketing ZFP ◽  
2010 ◽  
Vol 32 (JRM 1) ◽  
pp. 71-80
Author(s):  
Peter Leeflang ◽  
Auke Hunnemann
Keyword(s):  
Market Response
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