Spin in Earnings Information and Stock Returns

30 Pages Posted: 26 Feb 2007

See all articles by Francis Haeuck In

Francis Haeuck In

Monash University - Department of Accounting; Financial Research Network (FIRN)

Shibley Sadique

Monash University - Department of Accounting

Madhu Veeraraghavan

T.A. PAI Management Institute, Finance Area

Date Written: 2007

Abstract

This study empirically examines whether spin in earnings information in the financial press or in company press releases can alter investor behaviour and affect stock returns. Our sample includes 72 companies from the S&P 100 over the sample period 2000:Q1 to 2005:Q1. Using intraday stock returns, our results suggest that spin in earnings information as reported in the news media has a greater impact on stock returns than company press releases.

Keywords: Earnings press release, Media coverage of earnings information, Bias in earnings information, Stock market reaction

JEL Classification: G11, G14, M41

Suggested Citation

In, Francis Haeuck and Sadique, Shibley and Veeraraghavan, Madhu, Spin in Earnings Information and Stock Returns (2007). Available at SSRN: https://ssrn.com/abstract=965080 or http://dx.doi.org/10.2139/ssrn.965080

Francis Haeuck In

Monash University - Department of Accounting ( email )

Building 11E
Clayton, Victoria 3800
Australia
+61 3 9905 1561 (Phone)
+61 3 9905 5475 (Fax)

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Shibley Sadique

Monash University - Department of Accounting ( email )

Building 11E
Clayton, Victoria 3800
Australia

Madhu Veeraraghavan (Contact Author)

T.A. PAI Management Institute, Finance Area ( email )

Bangalore
Manipal, Karnataka 576104
India
+91-820-2701030 (Phone)

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