Earnings Announcement Timing in Selected Equity Markets
Brandner, J., Theissen, E., Palan, S., 2023. “Earnings Announcement Timing in Selected Equity Markets”, University of Graz, School of Business, Economics and Social Sciences Working Paper 2023-02.
22 Pages Posted: 21 Nov 2023
Date Written: October 18, 2023
We investigate earnings announcement timing in the equity markets of France, Germany, Japan, and the UK. We document important differences between the announcement timing in these countries and the U.S. After controlling for firm-specific characteristics we find no evidence that firms strategically release bad news on specific days of the week, or at specific times of the day.
Keywords: earnings announcement, timing, Friday effect, announcement time switching
JEL Classification: G12, G14, G40, M41
Suggested Citation: Suggested Citation