Are Friday Announcements Special in a Continuous Disclosure Environment?
We re-test the intuition that investors and traders could be preoccupied with the upcoming weekend and pay less attention to Friday corporate announcements in the continuous disclosure environment of Australia. The market reaction to Friday announcements in the US, except for earnings announcements,...
| Main Authors: | , , |
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| Format: | Journal Article |
| Language: | English |
| Published: |
WILEY
2021
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/85090 |
| _version_ | 1848764713945530368 |
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| author | Chapple, L Duong, Lien Truong, T. P. |
| author_facet | Chapple, L Duong, Lien Truong, T. P. |
| author_sort | Chapple, L |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | We re-test the intuition that investors and traders could be preoccupied with the upcoming weekend and pay less attention to Friday corporate announcements in the continuous disclosure environment of Australia. The market reaction to Friday announcements in the US, except for earnings announcements, disappears after correcting for selection bias. However, there is no evidence of investor inattention to Friday announcements in Australia, indicating that a continuous disclosure environment improves disclosure timeliness and market efficiency. The investor attention theory is significantly challenged in a unique natural setting where the potential selection bias to delay material information release to Fridays is eliminated. |
| first_indexed | 2025-11-14T11:23:44Z |
| format | Journal Article |
| id | curtin-20.500.11937-85090 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T11:23:44Z |
| publishDate | 2021 |
| publisher | WILEY |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-850902022-06-27T00:57:13Z Are Friday Announcements Special in a Continuous Disclosure Environment? Chapple, L Duong, Lien Truong, T. P. 1501 - Accounting, Auditing and Accountability We re-test the intuition that investors and traders could be preoccupied with the upcoming weekend and pay less attention to Friday corporate announcements in the continuous disclosure environment of Australia. The market reaction to Friday announcements in the US, except for earnings announcements, disappears after correcting for selection bias. However, there is no evidence of investor inattention to Friday announcements in Australia, indicating that a continuous disclosure environment improves disclosure timeliness and market efficiency. The investor attention theory is significantly challenged in a unique natural setting where the potential selection bias to delay material information release to Fridays is eliminated. 2021 Journal Article http://hdl.handle.net/20.500.11937/85090 10.1111/acfi.12652 English WILEY fulltext |
| spellingShingle | 1501 - Accounting, Auditing and Accountability Chapple, L Duong, Lien Truong, T. P. Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title | Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title_full | Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title_fullStr | Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title_full_unstemmed | Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title_short | Are Friday Announcements Special in a Continuous Disclosure Environment? |
| title_sort | are friday announcements special in a continuous disclosure environment? |
| topic | 1501 - Accounting, Auditing and Accountability |
| url | http://hdl.handle.net/20.500.11937/85090 |