Limited Attention, Competitive Information and Earnings Announcement Effect

DOI

10.2991/assehr.k.210407.033How to use a DOI?

Keywords

Limited attention, unexpected earnings, competitive information, earnings announcement effect

Abstract

This paper takes the 2007-2019 semi-annual and annual report of Chinese A-share listed companies as the research object, using multiple regression to examine the existence of earnings announcement effect and the relationship between investors’ attention, competitive information and earnings announcement effect. We find that there is no typical earnings announcement effect in Chinese stock market, but the market can identify different types of earnings information and react differently, manifesting as overreaction to good news and underreaction to bad news. Relevant information has spillover effect while irrelevant information has distracting effect.

Copyright

© 2021, 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/).

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TY  - CONF
AU  - Tian Xu
PY  - 2021
DA  - 2021/04/08
TI  - Limited Attention, Competitive Information and Earnings Announcement Effect
BT  - Proceedings of the 2021 6th International Conference on Social Sciences and Economic Development (ICSSED 2021)
PB  - Atlantis Press
SP  - 161
EP  - 165
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210407.033
DO  - 10.2991/assehr.k.210407.033
ID  - Xu2021
ER  -