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Information Content of Earnings for Write-Off Firms

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Abstract

Asset write-off has drawn the attention of researchers. Prior studies on unusual charge have focused on the market reaction to the announcement of the charge. In contrast, this paper investigates the market reaction to the earnings announcement in the following period. At this stage of research, I find strong evidence that the market reaction to the earnings announcement is asymmetric. Firms respond more positively to positive earnings surprise in the year following large write-offs.

Issue Date
2008-09
Publisher
한국경영컨설팅학회
Keywords
Write-off, Information Content, Earnings Response Coefficient
URL
http://www.earticle.net/article.aspx?sn=88720
Journal Title
경영컨설팅연구
Start Page
1
End Page
20
ISSN
1598-172X
Language
English
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