This paper analyzes the annual reports(from 1997 to 2011)of firms listed on two stock exchanges in China and reveals four significant characteristics of disclosure timing.These characteristics have significant economi...This paper analyzes the annual reports(from 1997 to 2011)of firms listed on two stock exchanges in China and reveals four significant characteristics of disclosure timing.These characteristics have significant economic implications for stock market movement,including positive contributions to stock price,trading volume and abnormal return.It thereby demonstrates that the CSRC’s"balanced disclosure"policy has not been working as expected and needs further review and improvement.展开更多
We introduce a set of criterions for classifying signature-only signature models. By the criterions, we classify signature models into 5 basic types and 69 general classes. Theoretically, 21141 kinds of signature mode...We introduce a set of criterions for classifying signature-only signature models. By the criterions, we classify signature models into 5 basic types and 69 general classes. Theoretically, 21141 kinds of signature models can be derived by appropriately combining different general classes. The result comprises almost existing signature models. It will be helpful for exploring new signature models. To the best of our knowledge, it is the first time for investigation of the problem of classification of signature-only signature models.展开更多
文摘This paper analyzes the annual reports(from 1997 to 2011)of firms listed on two stock exchanges in China and reveals four significant characteristics of disclosure timing.These characteristics have significant economic implications for stock market movement,including positive contributions to stock price,trading volume and abnormal return.It thereby demonstrates that the CSRC’s"balanced disclosure"policy has not been working as expected and needs further review and improvement.
基金the Major State Basic Research Development Program of China(973 Program)(Grant No.2004CB318000) the Innovation Fund of Shanghai University
文摘We introduce a set of criterions for classifying signature-only signature models. By the criterions, we classify signature models into 5 basic types and 69 general classes. Theoretically, 21141 kinds of signature models can be derived by appropriately combining different general classes. The result comprises almost existing signature models. It will be helpful for exploring new signature models. To the best of our knowledge, it is the first time for investigation of the problem of classification of signature-only signature models.
