A study on the market reactions to restatement announcements of listed companies in Taiwan
| Autor: | Wan-ting Lee, 李婉婷 |
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| Rok vydání: | 2011 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 99 This paper investigates the reaction of stock price to restatement announcements of finance statement. The samples include 521 financial restatements of listed companies in Taiwan announced between January, 2000 and December, 2009. The empirical results show that: 1) statistically significant negative market reactions to restatement announcements over an eleven-day announcement window, 2) relatively severe reactions are associated with restatements initiated by firms or restatements involving net income variation, 3)the smaller the net income adjustment is, the more severe the negative market reactions will be. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
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