Analysis of Investors’ Reaction to Unexpected Earnings Under Market Uncertainty
Objectives: Under uncertainty, investors do not have enough information about the firm's future cash flows and there is ambiguity about future state of the market. In this situation, according to Bayes' rule, when the market receives information signals (such as firms’ earnings announcemen...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
| Published: |
University of Isfahan
2020-03-01
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| Series: | Journal of Asset Management and Financing |
| Subjects: | |
| Online Access: | https://amf.ui.ac.ir/article_23630_187f58923f0c6fa107ee80b8db0d850b.pdf |