Delisted versus voluntary delisted versus remain listed: financial disclosure timing |
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Authors: | D Balios N Eriotis D Vasiliou |
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Institution: | 1. Department of Economics, National and Kapodistrian University of Athens, Athens, Greece;2. School of Social Sciences, Hellenic Open University, Patra, Greece |
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Abstract: | We focus in the period of announcement of accounting information for companies listed in an organized market and we re-examine their probability of delisting, voluntarily or not. Adopting the same framework, consideration is given to the assumption that investors utilize market information when accounting data are published. The analysis provided indicates that investors should pay attention to the financial disclosure timing. Our investigation demonstrated that even the short period of three months is quite important to making investment decisions. |
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Keywords: | Delisting voluntary delisting ordered logit polytomous logit financial disclosure timing |
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