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Keywords: preopening
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Journal Articles
Journal:
Journal of Financial Reporting
Journal of Financial Reporting (2020) 5 (1): 65–80.
Published: 01 March 2020
.... Specifically, we examine the price discovery at the preopening auction after earnings announcements. We show that traders place more orders at the end of the preopening after earnings announcements, a behavior that reduces the market's ability to learn their information, and we find they profit from these late...
