題目：The consistency of intraday timing of corporate disclosure releases
主講人：Jennifer Wu Tucker（University of Florida）
時間：2017年6月7日（星期三）14:30
地點：主樓241會議室
主講人簡介：
Jennifer Wu Tucker先后畢業于University of Illinois at Urbana-Champaign ,New York University, 獲會計學碩士和博士學位。目前就職于State University of New York at Stony Brook。他有多篇成果發表于國際權威期刊The Accounting Review ，Contemporary Accounting Research, Review of Accounting Studies, Accounting, Organizations and Society和 Journal of Accounting Research。擔任多家著名期刊審搞人與編輯，并獲多種獎勵。
內容簡介：
Firms may release their disclosure, including regulatory filings, in four intraday windows: before the market open, during the market open, after the market close, and overnight. We examine the consistency (or lack of consistency) of firms’ using an intraday window to release common types of disclosure. We find that firms with high operating risks, poor earnings performance, and auditor changes deviate more often from existing intraday timing patterns than do other firms and that firms with more analyst coverage deviate less from existing timing patterns. These findings could be interpreted as managers using their discretion to allow investors to better process a disclosure before trading (“efficient motive”) or to hide the news (“opportunistic motive”). To understand which motive dominates, we examine the association of intraday timing deviations with another setting in which managers use their discretion—earnings reporting. We find that firms that deviate more often from existing intraday timing patterns manipulate earnings to a larger degree. This result suggests that intraday timing deviations are, on average, opportunistic. Our study advances the understanding of how managers use their discretion in financial reporting and disclosure.
（承辦：會計系，科研與學術交流中心）
