Using a unique database hand-collected from approximately 5,000 news articles, I examine securities analysts' responsiveness to different types of news events. I find that analysts are most responsive to earnings announcements and less responsive to management guidance, operations updates, as well as news concerning investing activities, financing activities, credit ratings, and other analysts' activities. It is also interesting to note that analysts are more responsive to management guidance than they are to operations updates, as well as news concerning investing activities and financing activities. These results are robust even if only economically significant news events are considered and when different measures of analyst responsiveness are used.
| Speaker: | Ms Terry WANG PhD Candidate, The University of Southern California at Los Angeles |
| When: |
2.00 pm - 3.30 pm |
| Venue: | School of Accountancy [Map] Level 4, Meeting Room 4.1 |
| Contact: | Office of the Dean Email: SOAR@smu.edu.sg |