The impact of the internet on earnings announcements

Chan, Terence, Watson, Iain and Wee, Marvin (2005) The impact of the internet on earnings announcements. Pacific-Basin Finance Journal, 13 3: 263-300. doi:10.1016/j.pacfin.2004.09.003

Author Chan, Terence
Watson, Iain
Wee, Marvin
Title The impact of the internet on earnings announcements
Journal name Pacific-Basin Finance Journal   Check publisher's open access policy
ISSN 0927-538X
Publication date 2005-06-01
Sub-type Article (original research)
DOI 10.1016/j.pacfin.2004.09.003
Volume 13
Issue 3
Start page 263
End page 300
Total pages 38
Place of publication The Netherlands
Publisher Elsevier BV * North-Holland
Language eng
Formatted abstract
This study examines the impact of the Internet on earnings announcements, in an Australian context, with relation to (1) information content (2) post-earnings announcement drift (PEAD) and (3) information asymmetry. Our results for the pre-Internet (1996) and the post-Internet (2000) periods provide mixed evidence on the changes in the information content of earnings announcements. However, we detect a reduction in both the magnitude and duration of the post-earnings announcement drift in the post-Internet period for the positive unexpected earnings decile. The analysis on abnormal volume, spread and market depth do not show a significant change in information asymmetry between the pre- and post-Internet periods for preliminary final announcements.
Keyword Online trading
Information Content
Intraday market liquidity
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: UQ Business School Publications
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Citation counts: Scopus Citation Count Cited 2 times in Scopus Article | Citations
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Created: Thu, 06 Oct 2011, 21:58:42 EST by Karen Morgan on behalf of UQ Business School