Earnings announcements, private information, and liquidity

C.H. Furfine, A. Purnanandam, B. Swaminathan

Research output: Contribution to journalArticlepeer-review

Abstract

In this article, the author examines how the price impact of a trade varies throughout the days surrounding public earnings announcements. The results indicate that public news releases correlate with a reduction in the price impact of a trade on the day of the announcement.
Original languageEnglish
Pages (from-to)39-54
JournalEconomic Perspectives
StatePublished - 2006

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