Jurnal Ilmiah

Strategic Disclosure of Multiple Benchmarks in Earnings Announcements: An Experimental Study of Investors’ Behavior in Evaluating of Company Performance

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Judul Seri

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No. Panggil

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Penerbit

: ., 0

Deskripsi Fisik

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Bahasa

Indonesia

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Klasifikasi

E-BOOK

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Strategic disclosures, multiple benchmarks, multip

Info Detail Spesifik

Abstract: This study has two research objective: (1) to provide empirical support regarding the effectiveness of strategic disclosure of multiple benchmarks in earnings announcements and (2) to explains the cognitive mechanism in processing the information that the consequences can affect the judgments of investors in evaluating company performance. This issue is important because during this study of the behavioral investors often focus on the consideration in the framework of investment decision-making mechanism based on a systematic and accurate. Much prior research has described strategic disclosure of prior-period benchmark in earnings announcement that focus on the transitory gain or loss, which, in turn, influences investor’ judgments (Schrand dan Walther 2000; Krische 2005). Using multiple reference-point theory from psychology, this paper extend such research by investigating how investors behave differently to remainder effect and sufficient information available about external factors in earnings announcement. In addition, this study also investigates whether investors revisi their evaluation when they allowed to re-examine the prior-period announcement. The experimental results suggest that strategic disclosure of multiple benchmarks influences investor’ judgments in evaluating of company performance.

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