Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/61052
Title: The volatility of return revisions and financial statement literacy in emerging markets : the case of cross-listed Chinese firms
Authors: Callen, JL
Lai, KMY
Wei, SX 
Keywords: Chinese equity markets
Domestic versus foreign investors
Variance decomposition
Issue Date: 2016
Publisher: Wiley-Blackwell
Source: Journal of business finance and accounting, 2016, v. 43, no. 5-6, p. 572-596 How to cite?
Journal: Journal of business finance and accounting 
Abstract: Are foreign investors in emerging markets more financial statement literate than domestic investors? If so, this conjecture implies that foreign (domestic) investors are more likely to revise their return expectations to cash flow (discount rate) news. It also implies that cash flow news and discount rate news are likely to be uncorrelated when evaluating return revisions by domestic investors, whereas cash flow news and discount rate news are likely to be negatively correlated when evaluating return revisions by foreign investors. The Chinese equity markets yield robust empirical results that are consistent with both hypotheses.
URI: http://hdl.handle.net/10397/61052
ISSN: 0306-686X
DOI: 10.1111/jbfa.12180
Appears in Collections:Journal/Magazine Article

Access
View full-text via PolyU eLinks SFX Query
Show full item record

SCOPUSTM   
Citations

1
Last Week
0
Last month
Citations as of Aug 15, 2018

Page view(s)

64
Last Week
0
Last month
Citations as of Aug 12, 2018

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.