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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: http://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.
    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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