Timeliness of Reporting and Earnings Information Transfers
研究盈利报告及时性对信息传递的影响，发现较早发布盈利报告会向同行传递负面信息，且对未发布报告的公司影响显著，表明报告时机具有重要经济后果。
This study examines earnings timeliness and its effect on earnings information transfers. Empirical analyses focus on a sample of approximately fifteen hundred earnings reports and nearly four thousand information transfers. The principal findings are: (1) earlier earnings releases yield negative information transfers, (2) earnings releases yield negative (nominal) information transfers to firms that previously (subsequently) release their earnings reports, and (3) earlier earnings releases yield negative information transfers to firms that have not yet disclosed earnings. These findings show that the timing of earnings reports has significant and far‐reaching economic consequences.