Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 26, 2023 erstellt
Beschreibung:
Research documents price comovements or “spillovers” between focal firms and peer firms at focal-firm-earnings announcements. We find signed and absolute comovements between focal-firm and peer-firm returns are significantly lower at earnings-announcement dates compared to non-announcement dates. These results raise questions about the size of the information externality of financial reporting