Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019)

Market Reaction of Financial Restatements of Listed Companies

Authors
Qinfeng Xu, Wenju Kong
Corresponding Author
Qinfeng Xu
Available Online May 2019.
DOI
https://doi.org/10.2991/bems-19.2019.92How to use a DOI?
Keywords
Financial restatement; Market reaction; Event study.
Abstract
Over the past years, the amounts of listed companies that have accounting errors increased dramatically , in order to figure out the market reaction to financial restatement of listed companies, this paper uses event study method to study the market reaction of financial restatement disclosed in the notes of annual report during 2009-2018, the results show market respond negatively to the disclosed significant accounting errors, stock prices of company will drop significantly when the significant accounting errors is announced, and the effects will last for a few days after the announcement day.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Proceedings
Part of series
Advances in Economics, Business and Management Research
Publication Date
May 2019
ISBN
978-94-6252-720-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/bems-19.2019.92How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Qinfeng Xu
AU  - Wenju Kong
PY  - 2019/05
DA  - 2019/05
TI  - Market Reaction of Financial Restatements of Listed Companies
PB  - Atlantis Press
SP  - 517
EP  - 519
SN  - 2352-5428
UR  - https://doi.org/10.2991/bems-19.2019.92
DO  - https://doi.org/10.2991/bems-19.2019.92
ID  - Xu2019/05
ER  -