Promoting informativeness via staggered information releases

Promoting informativeness via staggered information releases When a firm has multiple pieces of information, this study shows that the firm does better from staggering the release of information than from expeditiously releasing all information at once. This is because releasing multiple pieces of information over time allows the firm to learn from the market’s response to each piece of information. In contrast, releasing all information at once impedes the firm’s ability to learn from the aggregate market response to all information. In effect, delaying the release of some information may improve the firm’s capacity to fine-tune follow-up decisions based on the market’s reactions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Accounting Studies Springer Journals

Promoting informativeness via staggered information releases

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Publisher
Springer US
Copyright
Copyright © 2014 by Springer Science+Business Media New York
Subject
Economics / Management Science; Accounting/Auditing; Finance/Investment/Banking; Public Finance & Economics
ISSN
1380-6653
eISSN
1573-7136
D.O.I.
10.1007/s11142-014-9307-6
Publisher site
See Article on Publisher Site

Abstract

When a firm has multiple pieces of information, this study shows that the firm does better from staggering the release of information than from expeditiously releasing all information at once. This is because releasing multiple pieces of information over time allows the firm to learn from the market’s response to each piece of information. In contrast, releasing all information at once impedes the firm’s ability to learn from the aggregate market response to all information. In effect, delaying the release of some information may improve the firm’s capacity to fine-tune follow-up decisions based on the market’s reactions.

Journal

Review of Accounting StudiesSpringer Journals

Published: Sep 12, 2014

References

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