The effect of information disclosure on market reaction with meta-analysis approach
Publish Year: 1401
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_AMFA-7-3_007
تاریخ نمایه سازی: 21 خرداد 1401
Abstract:
The present research aims to conduct meta-analysis of the effect of information disclosure on market reaction. In order to integrate the results of different researches and identify the determinants of relations between information disclosure and market reaction, we used meta-analysis methodology as a quantitative statistical method. To perform the meta-analysis method, the scientific magazines all over the world (the published papers relating the research variables from ۱۹۹۰ to ۲۰۲۰) were identified and gathered as statistical population and. As a result, ۸۶ studies were analyzed using systematic removal. The results of the relating studies published during this period indicate that most of these studies are heterogeneous. By classifying these studies based on different measurement criteria of information disclosure and market reaction and also by calculating the intragroup statistics along with identifying the factor of this heterogeneity, we found that these diverse measurement criteria used in the mentioned studies are considered as contradiction factors in research results. We also found that there is no meaningful relation between Non-financial information component, company cycle, type of industry and company size with market reaction whereas there is a meaningful relation between financial information and market reaction.
Keywords:
meta-analysis , Financial Information , Non-financial information company size , company cycle effect size
Authors
shiva zamani
Department of Financial Management, Faculty of Management, Islamic Azad University, Arak, Iran
majid zanjirdar
Department of Financial Management, Faculty of Management, Islamic Azad University, Arak, Iran
Ali Lalbar
Department of Accounting, Arak Branch, Islamic Azad University Arak, Iran