Market Reaction of Financial Restatements of Listed Companies

DOI

10.2991/bems-19.2019.92How to use a DOI?

Keywords

Financial restatement; Market reaction; Event study.

Abstract

Over the past years, the amounts of listed companies that have accounting errors increased dramatically , in order to figure out the market reaction to financial restatement of listed companies, this paper uses event study method to study the market reaction of financial restatement disclosed in the notes of annual report during 2009-2018, the results show market respond negatively to the disclosed significant accounting errors, stock prices of company will drop significantly when the significant accounting errors is announced, and the effects will last for a few days after the announcement day.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Qinfeng Xu
AU  - Wenju Kong
PY  - 2019/05
DA  - 2019/05
TI  - Market Reaction of Financial Restatements of Listed Companies
BT  - Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019)
PB  - Atlantis Press
SP  - 517
EP  - 519
SN  - 2352-5428
UR  - https://doi.org/10.2991/bems-19.2019.92
DO  - 10.2991/bems-19.2019.92
ID  - Xu2019/05
ER  -