JSE efficiency and share price reaction to forced financial restatements

The Impact Of Divestitures On Companies Share Price And Operating Performance For Companies Listed On The JSE

Noise or Information: When Stock Price Synchronicity Meets Accounting Restatements

This paper examines how and why stock price synchronicity responds to accounting restatements in China. Using a matching sample, we document that accounting restatements drive down price synchronicity. A set of regression analyses show that the declined price synchronicity reflects the increased firm-level noise/uncertainty rather than firm-level information. Further investigations with PIN and...

Financial Statement Credibility: The Contagion Effects of Accounting Restatements

We predict and find that accounting restatements induce economically meaningful share price declines among non-restatement firms in the same industry. These price declines are most pronounced among non-restatement firms with low accounting quality, as measured by industry adjusted accruals. Our results are consistent with the notion that accounting restatements cause investors to reassess the c...

Reaction to Price Changes

We claim that preferences of economic agents cannot be assumed given; rather, they are partly determined by the process of trade in the market, by information about the latter and so forth. In other words, preferences determine actions which, in turn, determine preferences. Thus classical tools of analysis such as the neo-classical utility function and the demand curve should be viewed merely a...

Studying the Dividend Policy and Share Price Volatility: Iran Evidence

Explaining dividend policy has been one of the most difficult challenges facing financial economists. Despite decades of study, we have yet to completely understand the factors that influence dividend policy and the manner in which these factors interact.The aim of this paper is to examine the relation between dividend policy and share price volatility in Tehran Stock Exchange (TSE). The analys...