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The share price response to interim financial reports in less-developed countries : the case of the Kingdom of Saudi Arabia
Other Title(s)
أثر التقارير المالية الدورية على أسعار الأسهم في الدول النامية : حالة المملكة العربية السعودية
Joint Authors
al-Buqmi, S. A.
Green, C. D.
Power, D. M.
Source
Issue
Vol. 1, Issue 5 (30 Sep. 1997), pp.465-504, 40 p.
Publisher
Publication Date
1997-09-30
Country of Publication
Saudi Arabia
No. of Pages
40
Main Subjects
Financial and Accounting Sciences
Abstract EN
The aim of this study is to examine the impact of published interim financial reports (IFR) on share prices of companies in the Kingdom of Saudi Arabia (KSA).
In this paper, we investigated the effect of quarterly earnings announcements on the weekly share prices of 39 Saudi listed companies.
Specifically, 774 quarterly announcements of earnings made by Saudi companies between the first quarter of 1987 and the fourth quarter of 1991 are analysed using an event study methodology.
The results of this study suggest that publication of the first, second and third quarters' reports were not associated with any significant share price reaction.The main share price response occurred when the final quarter's statements were issued indicating that the fourth quarter alone appeared to cause investors to revise then-belief about the worth of their shares.
American Psychological Association (APA)
al-Buqmi, S. A.& Green, C. D.& Power, D. M.. 1997. The share price response to interim financial reports in less-developed countries : the case of the Kingdom of Saudi Arabia. Accounting Research،Vol. 1, no. 5, pp.465-504.
https://search.emarefa.net/detail/BIM-107985
Modern Language Association (MLA)
al-Buqmi, S. A.…[et al.]. The share price response to interim financial reports in less-developed countries : the case of the Kingdom of Saudi Arabia. Accounting Research Vol. 1, no. 5(Sep. 1997), pp.465-504.
https://search.emarefa.net/detail/BIM-107985
American Medical Association (AMA)
al-Buqmi, S. A.& Green, C. D.& Power, D. M.. The share price response to interim financial reports in less-developed countries : the case of the Kingdom of Saudi Arabia. Accounting Research. 1997. Vol. 1, no. 5, pp.465-504.
https://search.emarefa.net/detail/BIM-107985
Data Type
Journal Articles
Language
English
Notes
Includes margin notes.
Record ID
BIM-107985