Earnings announcement and information spillover: evidence from cross-listing

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dc.contributor.authorSumon, Khairul Kabir
dc.contributor.authorUniversity of Lethbridge. Dhillon School of Business
dc.contributor.supervisorJiao, Feng
dc.date.accessioned2023-11-17T20:56:14Z
dc.date.available2023-11-17T20:56:14Z
dc.date.issued2023
dc.degree.levelMasters
dc.description.abstractThis study explores the intra-country information spillover of earnings announcements by a cross-listed firm to its non-announcing peer firms from the same home country in the US market from 1993 to 2021. Using a standard event study methodology, this study shows that non-announcing peer firms' cumulative abnormal returns (CARs) show a statistically significant positive association with the CARs of announcing firms over a three-day event window around the earnings announcement. The magnitude of information spillover of earnings announcements on peer firms is more pronounced in the bear market than in the bullish market. The intensity of information spillover is stronger and positively related to the home country's financial reporting quality and the size of the announcing firms.
dc.identifier.urihttps://hdl.handle.net/10133/6630
dc.language.isoen
dc.proquest.subject0508
dc.proquest.subject0272
dc.proquest.subject0310
dc.proquestyesYes
dc.publisherLethbridge, Alta. : University of Lethbridge, Dhillon School of Business
dc.publisher.facultyDhillon School of Business
dc.relation.ispartofseriesThesis (University of Lethbridge. Dhillon School of Business)
dc.subjectcross-listed firms
dc.subjectearnings announcements
dc.subjectinformation spillover
dc.subjectintra-country information transfer
dc.subject.lcshBusiness enterprises--Valuation
dc.subject.lcshInternational business enterprises--Valuation
dc.subject.lcshFinancial statements
dc.subject.lcshStocks--Prices
dc.subject.lcshStock exchanges
dc.subject.lcshHost countries (Business)
dc.subject.lcshAccounting
dc.subject.lcshCorporation reports
dc.subject.lcshDissertations, Academic
dc.titleEarnings announcement and information spillover: evidence from cross-listing
dc.typeThesis
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