A1 Vertaisarvioitu alkuperäisartikkeli tieteellisessä lehdessä
An analysis of the impact of varying levels of interim disclosure on Finnish share prices within five days of the announcement
Tekijät: Schadewitz H, Kanto A, Kahra H, Blevins D
Kustantaja: the University of New Haven School of Business
Kustannuspaikka: University of New Haven Press, 300 Orange Avenue, West Haven, CT 06516
Julkaisuvuosi: 2002
Journal: American business review
Artikkelin numero: 5
Vuosikerta: 20
Numero: 2
Aloitussivu: 33
Lopetussivu: 46
ISSN: 0743-2348
eISSN: 0743-2348
Verkko-osoite: http://www.newhaven.edu
An investigation to determine the differences in magnitude and timing of price changes associated with three levels of voluntary disclosure. It is discovered that, when subsequent disclosure is about-as-expected, the Finnish market reacts on the day of the interim announcement and achieves its maximum degree of reaction two days after the announcement. When the level of disclosure is lower than expected, this whole process is delayed by one day. When the level of disclosure is greater-than-expected, the process is delayed by three days.
