Title page for ETD etd-04202006-172121

Type of Document Dissertation
Author Kovacs, Tunde
URN etd-04202006-172121
Title Intra-industry information transfers: Evidence from earnings announcements
Degree PhD
Department Accounting and Information Systems
Advisory Committee
Advisor Name Title
Kadlec, Gregory B. Committee Chair
Cliff, Michael T. Committee Member
Gulen, Huseyin Committee Member
Kumar, Raman Committee Member
  • Post-earnings drift
  • Product market relations
  • Intra-industry information transfer
  • Information assimilation
Date of Defense 2006-04-12
Availability unrestricted
I examine the role of product market relations in information assimilation surrounding corporate earnings announcements. I provide evidence that intra-industry information transfers measured by industry rival earnings announcements account for a substantial portion of the well documented post-earnings announcement drift. While this evidence appears to be most consistent with rational structural uncertainty [Brav and Heaton (2002)] one cannot rule out the possibility of behavioral biases.
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