Abstract The “Post-Earnings-Announcement Drift” refers to an anomaly in financial markets.
It describes the drift of a firm's stock price in the direction of the firm's earnings surprise for an …

This study uses difference-in-differences (DiD) analyses to examine the consequences of
adopting the US critical audit matter (CAM) disclosure requirement for preparers and users …

In the current world of the Big Data revolution, where a vast amount of information is
available to investors, attention is a scarce resource. The time, effort, and skill required to …

We propose the visual attention hypothesis that visuals in firm earnings announcements
increase attention to the earnings news. We find that visuals in firms' Twitter earnings …

We examine managerial incentives to disclose the gender diversity of a firm's workforce. We
exploit information from employees' online profiles to infer the gender diversity of …

This paper revisits price formation following earnings announcements. In modern financial
markets, stock prices fully reflect earnings surprises on the announcement date, leading to …

Using social network data from Facebook, we show that earnings announcements made by
firms located in counties with higher investor social network centrality attract more attention …

Drifting in the direction of earnings surprises for a prolonged period is a decades-puzzling
financial anomaly, ie, the “post-earnings-announcement drift”(PEAD). This paper provided a …

Limited attention theory predicts that higher salience of earnings news implies a stronger
immediate market reaction to earnings news and a weaker post-earnings announcement …

We examine employee reactions to earnings announcement (EA) news using micro-level
data on individual employees' bank and credit card transactions. We find that EA news is …