文献详情
Do Corporate Site Visits Impact Stock Prices?
文献类型：期刊
通讯作者：Wang, X (reprint author), Univ Hong Kong, Hong Kong, Peoples R China.
期刊名称：CONTEMPORARY ACCOUNTING RESEARCH
年：2019
卷：36
期：1
页码：359-388
ISSN：0823-9150
摘要：We examine the stock price impact of corporate site visits using a unique data set of site visits to listed firms in China. Our main findings are as follows. First, the market reaction around corporate site visits is statistically and economically significant and is stronger for group visits, visits conducted by mutual fund managers, visits covering accounting and finance topics, visits to firms with poor information environments, and visits to manufacturing firms. Second, the stock returns arou ...More
We examine the stock price impact of corporate site visits using a unique data set of site visits to listed firms in China. Our main findings are as follows. First, the market reaction around corporate site visits is statistically and economically significant and is stronger for group visits, visits conducted by mutual fund managers, visits covering accounting and finance topics, visits to firms with poor information environments, and visits to manufacturing firms. Second, the stock returns around site visits are positively associated with firms' future performance. Third, the changes in visiting funds' holdings are more predictive of firms' future performance than those of nonvisiting funds. Overall, this study contributes to the literature by providing evidence that site visits are important venues for investors to collect information about firms and make informed trades. ...Hide

DOI：10.1111/1911-3846.12417
百度学术：Do Corporate Site Visits Impact Stock Prices?
语言：外文
被引频次：2
人气指数：1
浏览次数：1
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