The Impact of Accounting Earnings Disclosures on Stock Prices in Singapore |
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Authors: | M Ariff Alfred L C Loh Patricia M K Chew |
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Institution: | (1) Department of Finance and Banking, National University of Singapore, 10 Kent Ridge Crescent, Singapore, 119260 |
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Abstract: | This paper reports the relationship between earnings and share prices. The results show that unexpected earnings changes are significantly associated with share price changes. However, the strength of the earnings effect is not as pronounced as those reported in the more analytically-intensive developed stock markets. The results are adjusted for risk differences by using a non-synchronous correction procedure to remove thin-trading bias. |
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Keywords: | Accounting disclosure earnings effect earnings effect on share prices |
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