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dc.contributor.advisorEric So.en_US
dc.contributor.authorNoh, Suzieen_US
dc.contributor.otherSloan School of Management.en_US
dc.date.accessioned2018-09-17T15:53:29Z
dc.date.available2018-09-17T15:53:29Z
dc.date.copyright2018en_US
dc.date.issued2018en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/118005
dc.descriptionThesis: S.M. in Management Research, Massachusetts Institute of Technology, Sloan School of Management, 2018.en_US
dc.descriptionCataloged from PDF version of thesis.en_US
dc.descriptionIncludes bibliographical references (pages 30-32).en_US
dc.description.abstractThis study provides evidence on firms' incentives to strategically time their earnings announcements. I propose and implement a novel approach to isolating the impact of the relative ordering of different firms' earnings announcements on market outcomes. This approach relies on quasi-exogenous variation in the relative timing of earnings announcements driven by the specific day-of-week on which a calendar month begins. I refer to the resulting variation in firms' relative timing as 'calendar rotations,' which are uncorrelated with various earnings- and market-based proxies for the news content of firms' announcements. I show firms whose earnings announcements are moved forward due to calendar rotations receive greater media coverage of earnings news, experience less preemption of earnings news, and display larger earnings response coefficient (ERC). Together, these results suggest one reason why managers accelerate good-news announcements and delay bad-news announcements is that doing so influences the extent of media exposure and the speed of stock price discovery to their advantage.en_US
dc.description.statementofresponsibilityby Suzie Noh.en_US
dc.format.extent39 pagesen_US
dc.language.isoengen_US
dc.publisherMassachusetts Institute of Technologyen_US
dc.rightsMIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.en_US
dc.rights.urihttp://dspace.mit.edu/handle/1721.1/7582en_US
dc.subjectSloan School of Management.en_US
dc.titleA new approach to studying earnings announcement timing : why do firms change earnings announcement dates?en_US
dc.title.alternativeWhy do firms change earnings announcement dates?en_US
dc.typeThesisen_US
dc.description.degreeS.M. in Management Researchen_US
dc.contributor.departmentSloan School of Management
dc.identifier.oclc1051454022en_US


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