Årsregnskabsmeddelelser – aktiemarkedets effektivitet og dets forventninger

Helle L. Lønroth (), Peder Fredslund Møller and Frank Thinggaard
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Helle L. Lønroth: Videns- og Forskningscenter for Alternativ Behandling, Postal: Nordre Ringgade 1, 8000 Aarhus
Peder Fredslund Møller: Institut for Regnskab, Handelshøjskolen i Århus, Postal: Bartholins Allé 14, Bygning 1327, 8000 Aarhus C
Frank Thinggaard: Institut for Regnskab, Handelshøjskolen i Århus, Postal: Bartholins Allé 14, Bygning 1327, 8000 Aarhus C

Nationaløkonomisk tidsskrift, 2000, vol. 2000, issue 1, 189-204

Abstract: This article uses the event study method to examine the efficiency of the Danish stock market with respect to earnings announcements and its expectations as to the content of these announcement. Our results show that earnings announcements still contain information relevant to the stock market, and – in contrast to the results obtained in a similar study by Sørensen (1982) – that the Danish stock market is now fairly efficient in this area: the market reacts more quickly than before, and generally has correct expectations regarding the content of earnings announcements. Furthermore, the results indicate that the market’s expectations are now formed in a more sophisticated manner than was the case17 years ago.

Keywords: aktiemarkedet: effektivitet (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:jdaecn:0284

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