The Market Reaction to Corporate Disclosure: Evidence from Germany

Dettenrieder, Dominik ; Theissen, Erik

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Document Type: Working paper
Year of publication: 2012
The title of a journal, publication series: Midwest Finance Association 2013 Annual Meeting Paper
Place of publication: Mannheim ; Münster
Publication language: English
Institution: Business School > ABWL u. Finanzierung (Theissen 2009-)
Subject: 330 Economics
Abstract: We analyze the stock price, trading volume and liquidity reaction to corporate disclosure in Germany. Based on a broad sample of corporate announcements made between 1995 and 2007 we find that the announcements result in significant price changes, increased trading volume, and increased bid-ask spreads. Price changes are more pronounced for firms perceived to be more risky. Absolute price change and abnormal volume are strongly correlated.

Dieser Eintrag ist Teil der Universitätsbibliographie.

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BASE: Dettenrieder, Dominik ; Theissen, Erik

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ORCID: Dettenrieder, Dominik ; Theissen, Erik ORCID: 0000-0003-4460-8168

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