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Earnings announcements and competing information

Publication ,  Journal Article
Francis, J; Schipper, K; Vincent, L
Published in: Journal of Accounting and Economics
August 12, 2002

We investigate whether competing information, primarily analyst reports, reduces the usefulness of earnings announcements. Inconsistent with the view that information in analyst reports substitutes for earnings announcements, we find a positive relation between absolute abnormal returns to the two types of disclosures. This positive relation also characterizes subsequent period analyst reports relative to current period earnings announcements. We also find that aggregate absolute reactions to both types of disclosures increased over 1986-1995. As a whole, these results provide little support for the view that the informativeness of earnings announcements is eroded by competing information in the form of analyst reports. © 2002 Published by Elsevier Science B.V.

Duke Scholars

Published In

Journal of Accounting and Economics

DOI

ISSN

0165-4101

Publication Date

August 12, 2002

Volume

33

Issue

3

Start / End Page

313 / 342

Related Subject Headings

  • Accounting
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 3501 Accounting, auditing and accountability
  • 1502 Banking, Finance and Investment
  • 1501 Accounting, Auditing and Accountability
  • 1402 Applied Economics
 

Citation

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Francis, J., Schipper, K., & Vincent, L. (2002). Earnings announcements and competing information. Journal of Accounting and Economics, 33(3), 313–342. https://doi.org/10.1016/S0165-4101(02)00058-7
Francis, J., K. Schipper, and L. Vincent. “Earnings announcements and competing information.” Journal of Accounting and Economics 33, no. 3 (August 12, 2002): 313–42. https://doi.org/10.1016/S0165-4101(02)00058-7.
Francis J, Schipper K, Vincent L. Earnings announcements and competing information. Journal of Accounting and Economics. 2002 Aug 12;33(3):313–42.
Francis, J., et al. “Earnings announcements and competing information.” Journal of Accounting and Economics, vol. 33, no. 3, Aug. 2002, pp. 313–42. Scopus, doi:10.1016/S0165-4101(02)00058-7.
Francis J, Schipper K, Vincent L. Earnings announcements and competing information. Journal of Accounting and Economics. 2002 Aug 12;33(3):313–342.
Journal cover image

Published In

Journal of Accounting and Economics

DOI

ISSN

0165-4101

Publication Date

August 12, 2002

Volume

33

Issue

3

Start / End Page

313 / 342

Related Subject Headings

  • Accounting
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 3501 Accounting, auditing and accountability
  • 1502 Banking, Finance and Investment
  • 1501 Accounting, Auditing and Accountability
  • 1402 Applied Economics