Effects of Corporate Earnings Announcements on Stock Prices PDF Download
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Author: Syed B. Raza
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 42
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Book Description
Author: Syed B. Raza
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 42
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Book Description
Author: Reon Odendaal
Publisher:
ISBN:
Category :
Languages : en
Pages : 69
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Book Description
The period of 2010-2012 was characterized by information uncertainty and market volatility. Information uncertainty is a critical characteristic of financial market behavior. The ability to absorb and distribute information is central to financial market efficiency. Uncertain corporate earnings information causes stock price volatility which in turn impacts stock price equilibrium levels. An event study shows a picture in time of stock price impacts when information isreleased to financial markets. This picture can give indications of the levels of financial market efficiency. This event study focusses on the earnings announcements and investigates financial market efficiency, post earnings announcement drift and the presence of abnormal returns during the assessed period. This study seeks to add to the existing literature of event studies.
Author: John Shon
Publisher: FT Press
ISBN: 0132615851
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Profit from earnings announcements, by taking targeted, short-term option positions explicitly timed to exploit them! Based on rigorous research and huge data sets, this book identifies the specific earnings-announcement trades most likely to yield profits, and teaches how to make these trades—in plain English, with real examples! Trading on Corporate Earnings News is the first practical, hands-on guide to profiting from earnings announcements. Writing for investors and traders at all experience levels, the authors show how to take targeted, short-term option positions that are explicitly timed to exploit the information in companies’ quarterly earnings announcements. They first present powerful findings of cutting-edge studies that have examined market reactions to quarterly earnings announcements, regularities of earnings surprises, and option trading around corporate events. Drawing on enormous data sets, they identify the types of earnings-announcement trades most likely to yield profits, based on the predictable impacts of variables such as firm size, visibility, past performance, analyst coverage, forecast dispersion, volatility, and the impact of restructurings and acquisitions. Next, they provide real examples of individual stocks–and, in some cases, conduct large sample tests–to guide investors in taking advantage of these documented regularities. Finally, they discuss crucial nuances and pitfalls that can powerfully impact performance.
Author: John Shon
Publisher: Pearson Education
ISBN: 0132659549
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
This Element is an excerpt from Trading on Corporate Earnings News: Profiting from Targeted, Short-Term Options Positions (9780137084920) by John Shon, Ph.D., and Ping Zhou, Ph.D. Available in print and digital formats. Understand those crucial quarterly earning announcements: how they work, and how they impact stock prices. Quarterly earnings announcement are the most salient, most anticipated, regularly-recurring announcement that companies make. They are the most watched piece of information that comes directly from the people that know the business the best. They are also considered the most reliable source of information, largely because companies are subject to strict SEC Rule 10b-5 rules...
Author: Brian R. Bruce
Publisher: Irwin Professional Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
Author: James M. Patell
Publisher:
ISBN:
Category : Stock price forecasting
Languages : en
Pages : 45
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Book Description
Author: Benjamin Schmitt
Publisher: GRIN Verlag
ISBN: 3656972419
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
Bachelor Thesis from the year 2008 in the subject Business economics - Investment and Finance, grade: 1.1, EBS European Business School gGmbH (Finance), language: English, abstract: Many authors have already studied about stock price reactions after earnings announcements yet, which is because of the importance of earnings announcements, in particular quarterly earnings announcements, for many investors. However, all major studies concerning this topic deal with long-term scenarios, the stock’s price performance is measured for a time period of at least three quarters. Due to the fact that there are many investors, especially institutional investors such as hedge funds that trade stocks much more frequently, the existing studies are not relevant for them. This paper studies stock price reactions around quarterly earnings announcements for companies listed in Deutscher Aktienindex (DAX) or Midcap DAX (MDAX) with respect to changes of the company’s full-year outlook and of earnings surprise regarding analyst consensus forecast within ten days before and after the announcement date. Hence, this paper aims to analyse short-term reaction to quarterly earnings announcements, which are of relevance for all investors, whose investment strategy is, at least partially, focussing on the short-term performance. The main target group of this analysis are therefore hedge funds and investors that run short-term strategies. Due to the fact that the widespread Event Study Methodology is focused on the long-term, it is irrelevant for this analysis.
Author: Yann-ching Tsai
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 174
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Book Description
Author: VICTOR L. BERNARD
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
Author: Nikolaos Karampatsas
Publisher:
ISBN:
Category :
Languages : en
Pages : 51
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Book Description
Using a unique database this study establishes a relationship between firm-specific investor sentiment and stock price movements around earnings announcements. We find that firm-specific investor sentiment is a key determinant of price adjustment in the context of an earnings surprise. Unsurprisingly, the effect of firm-specific investor sentiment dominates the effect of market-wide sentiment. We also provide evidence that the effect of firm-specific investor sentiment is more pronounced for stocks that are hard to value and difficult to arbitrage and stock price reactions are most marked for stocks with negative earnings announcements. Further we find evidence of mispricing and return reversals over the days following an earnings surprise.
