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Complex disclosures and investor divergence at earnings announcements / Stella Y. Park.
- Format:
- Book
- Thesis/Dissertation
- Author/Creator:
- Park, Stella Y., author.
- Language:
- English
- Subjects (All):
- Finance.
- Innovations.
- Financial analysis.
- Information sources.
- Competition.
- Accounting--Penn dissertations.
- Penn dissertations--Accounting.
- Local Subjects:
- Finance.
- Innovations.
- Financial analysis.
- Information sources.
- Competition.
- Accounting--Penn dissertations.
- Penn dissertations--Accounting.
- Genre:
- Academic theses.
- Physical Description:
- 1 online resource (126 pages)
- Contained In:
- Dissertations Abstracts International 83-02A.
- Place of Publication:
- [Philadelphia, Pennsylvania] : University of Pennsylvania ; Ann Arbor : ProQuest Dissertations & Theses, 2021.
- Language Note:
- English
- System Details:
- Mode of access: World Wide Web.
- text file
- Summary:
- I examine how complex prior disclosures influence investors' pricing of current period earnings. To do so, I focus on firms' disclosure of product innovations in voluntary new product announcements (NPAs) as prior complex disclosures that complement quarterly earnings releases. Using machine learning algorithms, I extract five different types of product-related information to measure NPA complexity. I find that when the complexity of prior NPAs increases, investors are more likely to differ in their abilities to use them to complement information released at the current earnings announcement, resulting in greater divergence.
- Notes:
- Source: Dissertations Abstracts International, Volume: 83-02, Section: A.
- Advisors: Ittner, Christopher; Committee members: Armstrong, Christopher ; Heinle, Mirko; Holthausen, Robert.
- Department: Accounting.
- Ph.D. University of Pennsylvania 2021.
- Local Notes:
- School code: 0175
- ISBN:
- 9798535593029
- Access Restriction:
- Restricted for use by site license.
- This item is not available from ProQuest Dissertations & Theses.
- This item must not be sold to any third party vendors.
- This item must not be added to any third party search indexes.
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