Breach of continuous disclosure in Australia

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aut.relation.articlenumber3
aut.relation.endpage26
aut.relation.issue4
aut.relation.startpage21
aut.researcherGilbert, Aaron
dc.contributor.authorAndersen, A
dc.contributor.authorGilbert, A
dc.contributor.authorTourani Rad
dc.date.accessioned2014-01-30T01:23:08Z
dc.date.available2014-01-30T01:23:08Z
dc.date.copyright2013-12-01
dc.date.issued2013-12-01
dc.description.abstractGiven that disclosure is important for the efficient functioning of capital markets, this paper explores the impact of infringement of continuous disclosure by Australian listed firms. We observe a significantly negative market reaction for our sample firms around the day an infringement is announced. Our findings also provide partial evidence of an increase in spreads and a decrease in price informativeness following the announcement of a breach. Overall, our results indicate that the market considers the breach of continuous disclosure to be a relatively important incident.
dc.identifier.citationJASSA: The Finsia Journal of Applied Finance(4), pp.21 - 26
dc.identifier.urihttps://hdl.handle.net/10292/6663
dc.publisherThe Financial Services Institute of Australasia (Finsia)
dc.relation.urihttp://www.finsia.com/docs/new-policy-docs/breach-of-continuous-disclosure-in-australia-nbsp-.pdf?sfvrsn=0
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in (see Citation). The original publication is available at (see Publisher's Version).
dc.rights.accessrightsOpenAccess
dc.titleBreach of continuous disclosure in Australia
dc.typeJournal Article
pubs.elements-id158505
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Business & Law
pubs.organisational-data/AUT/Business & Law/Finance
pubs.organisational-data/AUT/Business & Law/Finance/Finance PBRF 2012
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