盈利新闻稿的文本基础

IF 1.2 Q3 BUSINESS, FINANCE

Advances in Accounting Pub Date : 2022-06-01 DOI:10.1016/j.adiac.2022.100591

Ken Li

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引用次数: 0

摘要

我通过区分文本基本原理(TF)和语气来重新审视收益新闻稿(epr)的信息内容，文本基本原理(TF)捕获了非语气语言的信息内容，语气捕获了乐观和悲观，这是先前研究的重点。我发现在控制了标准企业特征后，TF对未来经营业绩有正向预测，而tone对未来经营业绩有负向预测。我记录了TF中的返回延续，与先前文献中记录的音调中的返回反转形成对比。我的发现区分了TF中的信息内容和epr语气中的误导内容。

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Textual fundamentals in earnings press releases

I re-examine the information content of earnings press releases (EPRs) by distinguishing textual fundamentals (TF), which captures information content in non-tone language, from tone, which captures optimism and pessimism and is the focus of prior research. I find after controlling for standard firm characteristics, TF positively predicts future operating performance, unlike tone, which negatively predicts future operating performance. I document a return continuation in TF, in contrast to the return reversal in tone documented in prior literature. My findings distinguish informative content in TF and misleading content in tone in EPRs.

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来源期刊

Advances in Accounting BUSINESS, FINANCE-

CiteScore

2.50

自引率

6.20%

发文量

期刊介绍： Advances in Accounting, incorporating Advances in International Accounting continues to provide an important international forum for discourse among and between academic and practicing accountants on the issues of significance. Emphasis continues to be placed on original commentary, critical analysis and creative research.