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Investigating the Role of Accounting Information Uncertainty on Investors’ Reaction to Earnings Announcement
- Source :
- مطالعات تجربی حسابداری مالی, Vol 15, Iss 57, Pp 147-170 (2018)
- Publication Year :
- 2018
- Publisher :
- Allameh Tabataba'i University Press, 2018.
-
Abstract
- The purpose of this study is investigating the role of accounting information uncertainty on investors’ reaction to earnings announcement, as well as investors’ reaction to good earnings news. For doing so, a sample of 162 listed companies in the Tehran Stock Exchange in the period 1384 to 1394 have been selected. Three criteria including information quality, cash flows’ uncertainty (traditional and matched- firm method) were used for calculating the information uncertainty. The results of hypotheses test indicated when there is high information uncertainty (compared to low uncertainty), investors’ reaction to earnings announcement is less. Also, under high uncertainty, investors display less reaction to good news that this response is consistent with the conservatism approach.
Details
- Language :
- Persian
- ISSN :
- 28210166 and 25382519
- Volume :
- 15
- Issue :
- 57
- Database :
- Directory of Open Access Journals
- Journal :
- مطالعات تجربی حسابداری مالی
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.27e2c289b444f5abf9fe379316b2bac
- Document Type :
- article
- Full Text :
- https://doi.org/10.22054/qjma.2018.8917