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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/78255

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/78255

Title:	Prior Financial Ratio Information and Differential Market Response to Regulatory Changes
Authors:	Banker, Rajiv D.;Das, Somnath;Ou, Chin S. 歐進士
Contributors:	會計系
Date:	1995-10
Issue Date:	2015-09-03 16:33:31 (UTC+8)
Abstract:	This paper presents empirical evidence that previously disclosed financial ratio information is useful in explaining differential market reactions for a cross-section of firms facing subsequent common industry-level changes. We focus our attention on the Airline Deregulation Act of 1978 (Public Law 95-504), which was aimed at complete deregulation of the U.S. airline industry after 40 years of federal regulation. Our empirical results indicate that market reaction to the deregulatory changes is positively associated with operating performance and asset utilization. This suggests that an airline firm`s operating efficiency as measured by these ratios is a key determinant of how investors expect it to perform in a deregulated competitive environment.
Relation:	Journal of Accounting, Auditing & Finance, 10(4), 699-717
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1177/0148558X9501000402
DOI:	10.1177/0148558X9501000402
Appears in Collections:	[會計學系] 期刊論文

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