000			01925nab a2200217 a 4500
999			_c199683 _d199683
003			OSt
005			20200226102056.0
008			200130s2016 xxu|||||r|||| 00| 0 eng d
040			_aCO-BoUGC _cCO-BoUGC
100	1		_aTwedt, Brady _9178556
245	1		_aSpreading the word _bprice discovery and newswire dissemination of management earnings guidance _cBrady Twedt
300			_aPáginas 317 a la 346
520	3		_aThis study investigates the impact of dissemination on the efficiency of the price discovery process with respect to management earnings guidance disclosures. I first identify firm and guidance characteristics associated with the likelihood that guidance receives coverage in the Dow Jones Newswires. Using propensity score, within-firm, and returns-based matched control samples of guidance, I find that newswire dissemination is associated with larger initial price reactions and, more importantly, an increase in the speed with which guidance information is incorporated into price. I also find that newswire coverage affects the market's reaction to stand-alone versus bundled guidance and good versus bad news guidance. This study is the first to provide evidence of systematic variation, both across and within firms, in the breadth of guidance dissemination, and it shows that this variation has a substantial effect on how investors respond to guidance.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_9176486 _aMercados financieros _vPublicaciones seriadas
650	2	4	_9176633 _aInformación financiera _vPublicaciones seriadas
650	2	4	_9176454 _aCompañías _xFinanzas _vPublicaciones seriadas
650	2	4	_9176357 _aReportes financieros _vPublicaciones seriadas
773	0		_082265 _9372813 _aThe accounting review 2016 V.91 No. 1 (Jan) _o0000002030250 _x0001-4826 (papel) _h30 páginas _nIncluye tablas, figuras, referencias bibliográficas y apéndices
942			_2ddc _cART