Encontrados 2 documentos, a visualizar página 1 de 1
Going concern opinions are not bad news : evidence from industry rivals
Coelho, Luís M. S.; Peixinho, Ruben M. T.; Terjensen, SiriThis paper examines whether going concern audit opinions (GCO) affect the stock price performance of the announcing firms and their industry rivals. Our original evidence clearly suggests that such accounting event is asymmetrically perceived by the market depending on whether the firm is qualified by the auditor or not. In particular, firms receiving a GCO earn negative abnormal returns at the audit report’s d...
Are markets efficient? The extreme case of corporatebankruptcy: a literature re...
Coelho, Luís M. S.; Peixinho, Rúben M. T.; Taffler, Richard J.In 1970, Fama presented the foundations of what was to become the central proposition in finance: the Efficient Market Hypothesis (EMH). Under the EMH’s framework, a market is efficient if prices always reflect all available information. Behavioural finance is an alternative perspective to understand financial markets, which incorporates the implications of psychological decision processes. This new framework i...
| Financiadores do RCAAP | |||||||
|
|
|
|
|
|
||