Investor reaction to strategic emphasis on earnings numbers: An empirical study
We analyze the earnings information and stock prices of S&P500 firms and find that investors followingS&P500 stocks (i) respond more to pro forma earnings than to GAAP earnings, (ii) respond toan emphasis on pro forma earnings, and (iii) are fixated on pro forma earnings. We provide the firs...
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| Format: | Journal Article |
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Vizja Press & IT
2013
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| Online Access: | http://hdl.handle.net/20.500.11937/47415 |