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Family ownership, country governance, and foreign portfolio investment
We study how different dimensions of family ownership combine to make family firms around the world appealing to foreign investors. Family firms provide the benefits of political connections, but at the same time they ...
Information Diffusion of Upstream and Downstream Industry-wide Earnings Surprises and Its Implications
(Springer Verlag, 2017-05-24)
This study presents new evidence that industry-wide earnings surprises indeed diffuse gradually across the supply chain at both industry and individual-firm levels. This evidence provides fundamental support for studies ...
Headline Salience, Managerial Opportunism, and Over- and Underreactions to Earnings
(American Accounting Association, 2017-12)
Limited attention theory predicts that higher salience of earnings news implies a stronger immediate market reaction to earnings news and a weaker post-earnings announcement drift (PEAD) or reversal (PEAR). Using a new ...