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quarterly financial accounting journal 2017, 9(34): 124-149 Back to browse issues page
The Invedtigating of Stock Market Reaction to Interim Earning and Annually Earning Forecasts contemporaneous News on Tehran Stock Exchange
Mehdi Aghabeikzadeh 1, Dariush Forooghi * 2
1- Isfahan(Khorasgan) Branch, Islamic Azad University
2- Associate Professor isfahan university
Abstract:   (682 Views)

The requirement for companies to report their interim earning and annual earnings forecast within 30-days overpass from each interim-period will raise the question whether the simultaneous announcement of these two profits affects on the market reaction to the type and nature of the  news each of these profits and causes a different reaction of the capital market to this type of information, and most importantly, which market will pay more attention to one of these profits. In so doing, we have selected 101 listed-companies as our resulting research sample in period 2008-2014 using systematic sampling method as well as applying some restrictions to perform necessary tests. From hypothesis testing, we find that market reaction to annually earnings forecast news seems to be greater than that of simultaneous interim earnings news. Also, consistency (contrariety) of both these simultaneous news have not significantly affected the information content of majority of annually earnings forecast. Furthermore, we also show that market reaction measure on good-news associated with both simultaneous interim earnings and annually earnings forecast is greater than the case of bad-news

Keywords: Interim Earning News, Annually Earning Forecast News, Contrariety News, Consistency News
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Type of Study: Research | Subject: Special
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aghabeikzadeh M, forooghi D. The Invedtigating of Stock Market Reaction to Interim Earning and Annually Earning Forecasts contemporaneous News on Tehran Stock Exchange. quarterly financial accounting journal. 2017; 9 (34) :124-149
URL: http://qfaj.ir/article-1-1001-en.html


year 9, Issue 34 (9-2017) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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