TY - JOUR
T1 - An investigation of market response to earnings announcements : multinational firms versus domestic firms
AU - CHENG, Agnes
AU - CHAN, Koon Hung
AU - LIAO, Woody
PY - 1997/1/1
Y1 - 1997/1/1
N2 - 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.
AB - 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.
KW - Domestic firms; Earnings announcement; Market response; Multinational firms
UR - http://commons.ln.edu.hk/sw_master/1572
UR - http://www.scopus.com/inward/record.url?scp=15844400530&partnerID=8YFLogxK
U2 - 10.1016/S0020-7063(97)90021-2
DO - 10.1016/S0020-7063(97)90021-2
M3 - Journal Article (refereed)
SN - 1094-4060
VL - 32
SP - 125
EP - 138
JO - The International Journal of Accounting
JF - The International Journal of Accounting
IS - 2
ER -