Robert Kim
University of Massachusetts Boston
FinanceEconomicsStock marketMarket sentimentEarnings
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Publications 7
#1Junwoo Kim (University of Massachusetts Boston)H-Index: 1
#2Robert Kim (University of Massachusetts Boston)H-Index: 1
Last. Sangwan Kim (University of Massachusetts Boston)H-Index: 2
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Abstract This paper examines the role of financial statement comparability in shaping trading volume prior to earnings announcements. We find that the degree of delayed trading volume prior to earnings announcements is less pronounced for firms with more comparable financial statements. In addition, the effect of financial statement comparability on pre-announcement trading volume is stronger in more opaque information environments. Our findings are incrementally significant after controlling fo...
1 CitationsSource
#1Hyunkwon Cho (Sejong University)
#2Robert Kim (University of Massachusetts Boston)H-Index: 1
#1Robert Kim (University of Massachusetts Boston)H-Index: 1
#2Sangwan Kim (University of Massachusetts Boston)H-Index: 2
Last. Prianka M. Musa (University of Massachusetts Boston)H-Index: 1
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Abstract This study investigates the user-specific contexts under which comparability better enhances relevance of accounting information. We first confirm the intuition in the FASB’s (2010) current conceptual framework by documenting that the short-window earnings response coefficient (ERC) is positively associated with the pre-determined level of comparability. Using the cross-sectional variation in the positive relation between ERC and comparability, we show that the link between ERC and comp...
2 CitationsSource
#1Myungsun Kim (UB: University at Buffalo)H-Index: 11
#2Robert Kim (University of Massachusetts Boston)H-Index: 1
Last. H. Raghav Rao (UTSA: University of Texas at San Antonio)H-Index: 37
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Purpose The purpose of this paper is to examine the role of online freelance stock analysts in correcting mispricing of hard-to-value firms during sentiment-driven market periods. Design/methodology/approach The sample covers 23,758 Seeking Alpha articles obtained for the period between January 2005 and September 2011. The authors use OLS regressions to test the stock market reaction around Seeking Alpha analysts’ reports. The information in online analysts’ reports is measured by the tone of st...
#2William KrossH-Index: 4
Last. Inho SukH-Index: 7
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We examine the propensity and properties of bond analysts’ forecasts on cash flows and earnings. We find that the probability to issue cash flow, relative to earnings, forecasts is greater for bond analysts than for equity analysts, consistent with the notion that cash flow, relative to earnings, information is more important to bond investors than for stock investors. In addition, bond analysts’ cash flow (earnings) forecasts are more (less) accurate than equity analysts’ cash flow (earnings) f...
#1Hae-Young Byun (Kangwon National University)H-Index: 4
#2Sunhwa Choi (Lancaster University)H-Index: 4
Last. Robert G. Kim (UB: University at Buffalo)H-Index: 1
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This paper examines the relation between business group affiliation and the cost of debt capital. The co-insurance effect associated with business groups can reduce the cost of debt, while expropriation by controlling shareholders can raise the cost of debt. We find that firms affiliated with major Korean business groups (i.e., chaebols) enjoy a substantially lower cost of public debt than do independent firms, consistent with the co-insurance argument. We also examine several factors that influ...
35 CitationsSource