2019
DOI: 10.2139/ssrn.3223521
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The Impact of Information Technology on Stock Price Crash Risk: Evidence from the EDGAR Implementation

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Cited by 6 publications
(9 citation statements)
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References 36 publications
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“…Emery and Gulen (2019) and Gao and Huang (2020) view EDGAR as an IT improvement and show that it helps the retail customers of an online discount broker to overcome their home bias and improves the informativeness of their trades. Guo et al (2019), a paper that overlaps with ours in part in its focus on crash risk, finds that accounting conservatism increases post-EDGAR, consistent with a bad-news hoarding channel for crash risk but in contrast to our findings. 5 We make two principal contributions to the literature.…”
supporting
confidence: 81%
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“…Emery and Gulen (2019) and Gao and Huang (2020) view EDGAR as an IT improvement and show that it helps the retail customers of an online discount broker to overcome their home bias and improves the informativeness of their trades. Guo et al (2019), a paper that overlaps with ours in part in its focus on crash risk, finds that accounting conservatism increases post-EDGAR, consistent with a bad-news hoarding channel for crash risk but in contrast to our findings. 5 We make two principal contributions to the literature.…”
supporting
confidence: 81%
“…We use the final phase-in dates as per the December 1994 announcement. In doing so, we follow Chang, Ljungqvist, and Tseng (2021) but depart from Emery and Gulen (2019), Guo et al (2019), and Gao and Huang (2020), who use the preliminary dates.…”
Section: A Institutional Backgroundmentioning
confidence: 99%
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“…variables, including analyst forecasts , investor disagreement (Chang, Hsiao, Ljungqvist, and Tseng 2020), information asymmetry (Gomez 2020), earnings management (Liu 2019), and stock price crash risk (Guo, Lisic, Stuart, and Wang 2019). In contrast to our work, these studies do not consider the notion of revelatory price efficiency since their focus is not on how EDGAR affects the real economy.…”
Section: Related Literaturementioning
confidence: 87%
“…Griffin (2003) and Li and Ramesh (2009) document significant stock price reactions surrounding 10-K and 10-Q filings in the EDGAR era. variables, including analyst forecasts , investor disagreement (Chang, Hsiao, Ljungqvist, and Tseng 2020), information asymmetry (Gomez 2020), earnings management (Liu 2019), and stock price crash risk (Guo, Lisic, Stuart, and Wang 2019). In contrast to our work, these studies do not consider the notion of revelatory price efficiency since their focus is not on how EDGAR affects the real economy.…”
Section: Related Literaturementioning
confidence: 87%