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Abstract(s)
Este trabalho discute os efeitos da publicação de trading statements na LSE ou seja, se ocorrem e que formas assumem. Utilizando uma amostra de 397 anúncios, divulgados entre 2004 e 2013 no Perfect Information, analisamos as anunciantes e as concorrentes, decompusemos anualmente o efeito dos anúncios, isolamos o efeito pré-crise financeira do que se lhe seguiu, e separamos os efeitos por setor de atividade, sendo que nos focamos num período temporal de onze dias em torno do dia do anúncio. Concluímos que aquele mercado é sensível à sua divulgação.
This work discusses effects on the LSE caused by the publication of trading statements, that is, whether the effects occur and how. Based on a sample of 397 statements, disclosed between 2004 and 2013 in Perfect Information, we analysed the disclosing parties and their competitors, we created an annual breakdown of the effect of the statements, we isolated the consequent pre-financial crisis effect, and we separated the effects per business sector. We focussed on an 11-day period around the statement day. We concluded that the LSE is sensitive to disclosed trading statements.
This work discusses effects on the LSE caused by the publication of trading statements, that is, whether the effects occur and how. Based on a sample of 397 statements, disclosed between 2004 and 2013 in Perfect Information, we analysed the disclosing parties and their competitors, we created an annual breakdown of the effect of the statements, we isolated the consequent pre-financial crisis effect, and we separated the effects per business sector. We focussed on an 11-day period around the statement day. We concluded that the LSE is sensitive to disclosed trading statements.
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Keywords
Informação Trading statement Estudos de eventos Information Event studies