Post earnings announcement drift after management forecasts
管理层预测后盈利公告后的偏差
基本信息
- 批准号:21530485
- 负责人:
- 金额:$ 1.66万
- 依托单位:
- 依托单位国家:日本
- 项目类别:Grant-in-Aid for Scientific Research (C)
- 财政年份:2009
- 资助国家:日本
- 起止时间:2009 至 2011
- 项目状态:已结题
- 来源:
- 关键词:
项目摘要
14 : 46 on March 11, 2011, Tohoku earthquake hit northeast coast of Japan and caused enormous damage on the economy. Closely focusing on the post-earthquake days, we evaluates the efficacy of circuit breakers on a turbulent market through exploration of a unique trading mechanism combined with price limit and trading halt rule. Even in the stormy market, we find little evidence to support effectiveness of trading halt : halted stocks are suffered from inefficient price discovery process and higher volatility over post-shock days. The results suggest in the midst of panic, trading in open market is the solution to resolve uncertainty.
2011年3月11日14时46分,日本东北部沿海发生大地震,给日本经济造成巨大损失。本文以地震后的日子为研究对象,通过探索与涨跌停板规则相结合的独特交易机制,对熔断机制在动荡市场中的有效性进行了评估。即使在震荡的市场中,我们也没有发现支持停牌有效性的证据:停牌股票的价格发现过程效率低下,震荡后的波动性更高。结果表明,在恐慌中,在公开市场交易是解决不确定性的解决方案。
项目成果
期刊论文数量(0)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
Is Japan Really a "Buy"? The Corporate Governance, Cash Holdings and Economic Performance of Japanese Companies
- DOI:10.1111/jbfa.12235
- 发表时间:2017-03-01
- 期刊:
- 影响因子:2.9
- 作者:Kato, Kazuo;Li, Meng;Skinner, Douglas J.
- 通讯作者:Skinner, Douglas J.
Price limits, trading halts and a turbulent market : A case of Tohoku earthquake in 2011
价格限制、交易暂停和市场动荡:以 2011 年东北地震为例
- DOI:
- 发表时间:2012
- 期刊:
- 影响因子:0
- 作者:歌代豊含め;85名;Chikako Ozu and Sid Gray;加藤達彦;向伊知郎;Chikako Ozu;Kazuo Kato
- 通讯作者:Kazuo Kato
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KATO Kazuo其他文献
KATO Kazuo的其他文献
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{{ truncateString('KATO Kazuo', 18)}}的其他基金
The study on the method to estimate the bacterial ecology for oral biofilm, by mapping the quantitative distribution of the biofilm elements.
通过绘制生物膜元素的数量分布来估计口腔生物膜细菌生态的方法研究。
- 批准号:
20592477 - 财政年份:2008
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
Development of support system for heating tumors without contact
开发非接触加热肿瘤支持系统
- 批准号:
20591485 - 财政年份:2008
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
A study of time-series analysis on Open Source LMS specialized for Practical student experiment
针对学生实践实验的开源LMS的时间序列分析研究
- 批准号:
19500815 - 财政年份:2007
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
An empirical study of managerial earnings forecast and it's market reaction
管理层盈余预测及其市场反应的实证研究
- 批准号:
19530421 - 财政年份:2007
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
STUDY ON SNP OF GH GENES FAVORING BEEF PRODUCTION
促进牛肉生产的GH基因SNP研究
- 批准号:
19380150 - 财政年份:2007
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (B)
Study on bacterial ecology and structural permeability within dental plaque using a quantitative method for mapping the distribution pattern of plaque bacteria
使用定量方法研究牙菌斑内的细菌生态和结构渗透性以绘制牙菌斑细菌的分布模式
- 批准号:
17592192 - 财政年份:2005
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
Empirical examination of disclosure environment in Japan - quarterly earnings announcements and management forecasts -
日本信息披露环境的实证检验——季度收益公告和管理层预测——
- 批准号:
16530310 - 财政年份:2004
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
Development of re-entrant type hyperthermia system for many different kinds of deep tumor
多种深部肿瘤折返式热疗系统的研制
- 批准号:
16390345 - 财政年份:2004
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (B)
STUDY ON A METHOD FOR MAPPING THE DISTRIBUTION PATTERN OF CARIOGENIC BACTERIA WITHIN DENTAL PLAQUE in vivo USING REAL-TIME PCR
实时荧光定量PCR绘制体内牙菌斑内致龋菌分布模式的方法研究
- 批准号:
14571974 - 财政年份:2002
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
The interaction between vasopressin and oxytocin neurons after central salt loading
中枢盐负荷后加压素和催产素神经元之间的相互作用
- 批准号:
13670068 - 财政年份:2001
- 资助金额:
$ 1.66万 - 项目类别:
Grant-in-Aid for Scientific Research (C)
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