Market Reaction of Financial Restatements of Listed Companies
Authors
Qinfeng Xu, Wenju Kong
Corresponding Author
Qinfeng Xu
Available Online May 2019.
- DOI
- 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.
- Copyright
- © 2019, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
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 BT - Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019) PB - Atlantis Press SP - 517 EP - 519 SN - 2352-5428 UR - https://doi.org/10.2991/bems-19.2019.92 DO - 10.2991/bems-19.2019.92 ID - Xu2019/05 ER -