IDEAS home Printed from https://ideas.repec.org/a/taf/reroxx/v30y2017i1p647-660.html
   My bibliography  Save this article

Investors’ behaviour in regard to company earnings announcements during the recession period: evidence from the Macedonian stock exchange

Author

Listed:
  • Julijana Angelovska

Abstract

The study investigates the reaction of investors to annual earnings releases as reflected in the volume and price movements of common stocks during a recession. We provide an apparent example where investors did not react to firm-specific positive earnings announcements. Event methodology is employed, and the returns in an event window, defined conventionally as the day before to two days after a firm-specific public earnings announcement, are not abnormal. The volume of trade in the event window is not atypical either. The psychological impact on the investors was such that fear could not be alleviated by the good news and good financial results.

Suggested Citation

  • Julijana Angelovska, 2017. "Investors’ behaviour in regard to company earnings announcements during the recession period: evidence from the Macedonian stock exchange," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 30(1), pages 647-660, January.
    • Handle: RePEc:taf:reroxx:v:30:y:2017:i:1:p:647-660
    DOI: 10.1080/1331677X.2017.1305768
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1331677X.2017.1305768
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1331677X.2017.1305768?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:reroxx:v:30:y:2017:i:1:p:647-660. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rero .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.