...Karthik Balakrishnan; Xanthi Gkougkousi; Wayne R. Landsman; Peeyush Taori ABSTRACT This study examines how the market share of dark venues changes at earnings announcements. Our analysis shows a statistically significant increase in dark market share in the weeks prior to, during, and following...

...Young Jun Cho; Yongtae Kim; Yoonseok Zang ABSTRACT We examine the relation between information externalities along the supply chain and voluntary disclosure. Information transfers from a major customer's earnings announcement (EA) can substitute for its supplier's disclosure. Conversely...

...George Eli Batta; Jiaping Qiu; Fan Yu ABSTRACT This paper presents a comprehensive analysis of the role of credit default swaps (CDS) in information production surrounding earnings announcements. First, we demonstrate that the strength of CDS price discovery prior to earnings announcements...

...Joseph H. Schroeder ABSTRACT This study examines the role of the external audit in management's decision about the amount of GAAP financial statement information to disclose in the annual earnings announcement. The earnings announcement is a key disclosure provided by public companies. Yet...