An investigation of market response to earnings announcements : multinational firms versus domestic firms
Document Type
Journal article
Source Publication
The International Journal of Accounting
Publication Date
1-1-1997
Volume
32
Issue
2
First Page
125
Last Page
138
Publisher
Pergamon Press
Keywords
Domestic firms; Earnings announcement; Market response; Multinational firms
Abstract
Capital market responses to accounting earning annoucements have been well documented in the accounting literature. These responses may vary with firm size, analyst following, and other variables. This study investigates the effect of multinational operations as a proxy for operational and informational complexity on market responses to earnings announcements. The results show that multinational operations provide significant explanatory power for market responses to earnings announcements after controlling the factors of firm size and analyst following.
DOI
10.1016/S0020-7063(97)90021-2
Print ISSN
10944060
E-ISSN
22133933
Publisher Statement
Copyright © 1997 Published by Elsevier Inc.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Cheng, A., Chan, K. H., & Liao, W. (1997). An investigation of market response to earnings announcements: Multinational firms versus domestic firms. The International Journal of Accounting, 32(2), 125-138. doi: 10.1016/S0020-7063(97)90021-2