What do they mean? Using Media Richness as an Indicator for the Information Value of Stock Analyst Opinion regarding post-earnings Firm Performance

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2017-01-04
Authors
Eickhoff, Matthias
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In this research the impact of media-richness on the investor reaction to earnings announcements is investigated. To this end, unstructured (high-richness) sources of analyst opinion are subjected to text-mining and combined with structured (low-richness) sources of analyst opinion, as well as other commonly used structured data relevant to company performance. Results indicate that equivocality is a major problem faced by investors, while uncertainty as understood by media-richness theory appears to be less dominant.
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Earnings Release, Firm Performance, Media Richness Theory, Stock Analysts, Topic Mining
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10 pages
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Proceedings of the 50th Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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