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The Relative Impact of Different News on Stock Returns: Evidence From New Zealand

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aut.relation.articlenumberacfi.70174
aut.relation.journalAccounting and Finance
dc.contributor.authorMa, R
dc.contributor.authorMarshall, BR
dc.contributor.authorNguyen, NH
dc.contributor.authorVisaltanachoti, N
dc.date.accessioned2026-05-25T04:46:45Z
dc.date.available2026-05-25T04:46:45Z
dc.date.issued2026-01-19
dc.description.abstractWe estimate the effects of different news events on New Zealand stock returns. Our results indicate that local news, such as announcements from the New Zealand Central Bank interest rate changes (official cash rate) and company earnings reports, generally has a greater impact than international news. However, U.S. Federal Open Market Committee interest rate announcements also exert an important impact. There are no consistent differences in the impact of news on stocks with different cross-sectional characteristics, such as small and large, value and growth, and low- and high-leverage stocks.
dc.identifier.citationAccounting and Finance, ISSN: 0810-5391 (Print); 1467-629X (Online), Wiley. doi: 10.1111/acfi.70174
dc.identifier.doi10.1111/acfi.70174
dc.identifier.issn0810-5391
dc.identifier.issn1467-629X
dc.identifier.urihttp://hdl.handle.net/10292/21225
dc.languageen
dc.publisherWiley
dc.relation.urihttps://onlinelibrary.wiley.com/doi/10.1111/acfi.70174
dc.rights© 2026 The Author(s). Accounting & Finance published by John Wiley & Sons Australia, Ltd on behalf of Accounting and Finance Association of Australia and New Zealand. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.
dc.rights.accessrightsOpenAccess
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subject38 Economics
dc.subject3502 Banking, Finance and Investment
dc.subject3801 Applied Economics
dc.subject35 Commerce, Management, Tourism and Services
dc.subject1402 Applied Economics
dc.subject1501 Accounting, Auditing and Accountability
dc.subject1502 Banking, Finance and Investment
dc.subjectAccounting
dc.subject3501 Accounting, auditing and accountability
dc.subjectearnings
dc.subjecteconomic policy uncertainty
dc.subjectinternational news
dc.subjectlocal news
dc.subjectmacroeconomic announcements
dc.subjectstock returns
dc.subjecttechnical factors
dc.titleThe Relative Impact of Different News on Stock Returns: Evidence From New Zealand
dc.typeJournal Article
pubs.elements-id752235

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