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Intra-industry information transfers: Evidence from earnings announcements

I examine the role of product market relations in information assimilation surrounding corporate earnings announcements. I provide evidence that intra-industry information transfers measured by industry rival earnings announcements account for a substantial portion of the well documented post-earnings announcement drift. While this evidence appears to be most consistent with rational structural uncertainty [Brav and Heaton (2002)] one cannot rule out the possibility of behavioral biases. / Ph. D.

Identiferoai:union.ndltd.org:VTETD/oai:vtechworks.lib.vt.edu:10919/27057
Date28 April 2006
CreatorsKovacs, Tunde
ContributorsAccounting and Information Systems, Kadlec, Gregory B., Gulen, Huseyin, Cliff, Michael T., Kumar, Raman
PublisherVirginia Tech
Source SetsVirginia Tech Theses and Dissertation
Detected LanguageEnglish
TypeDissertation
Formatapplication/pdf
RightsIn Copyright, http://rightsstatements.org/vocab/InC/1.0/
Relationpostearnings_dissertation.pdf

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