|
Document Type |
: |
Thesis |
|
Document Title |
: |
The impact of accounting information contained in the interim financial reports on stock prices:applied study on saudi stock market اثر المعلومات المحاسبية الواردة في التقارير المالية على أسعار الأسهم دراسة تطبيقية على سوق الأسهم السعودي |
|
Document Language |
: |
Arabic |
|
Abstract |
: |
The Saudi capital market authority confirmed the importance of preparing the accounting information and publishing it periodically by forcing the Saudi stock companies to submit interim financial reports (quarterly), as it is care to provide the investors with the information they needed on time before the information lose its ability to affect the decisions.
From this respect, the main goal for the research is testing the impact of announcement timeliness of the accounting information contained in the interim financial reports on stock prices of listed companies on Saudi stock market.
To reach this goal, the researcher used event study methodology to identify the efficiency of the Saudi stock market, and to know whether there is an impact for the announcement event about the interim financial reports on stock prices. The study based on a sample of (134) companies listed on Saudi stock market for the year of 2011 and represent all the economic sectors, the sample was divided by naïve model into companies which announced good news and companies which announced bad news, and the study was applied for every quarter separately, then for whole period and then for every sector.
the study has concluded based on the results of the whole period that the Saudi stock market is not affected by announcing the interim financial reports with good news, whereas it is affected by announcing the interim financial reports with bad news in the right direction at the event day and the following day, whereas the results of the event study for every quarter has shown a difference in market response for announcing the interim financial reports with good news and bad news from a quarter to another, but in total it seemed more affected by announcing the interim financial reports with bad news, so it can be said the Saudi stock market is not efficient according to the semi-strong form of efficiency.
In light of the conclude results the researcher offered set of recommendations, the most important is the suggestion of reducing the regular period specified by the capital market authority to publish the interim financial reports from fifteen days to ten days from the period end, besides conducting further researches and studies in this respect. |
|
Supervisor |
: |
Awad Slamah AL-Rehaily |
|
Thesis Type |
: |
Master Thesis |
|
Publishing Year |
: |
1433 AH
2011 AD |
|
Number Of Pages |
: |
151 |
|
Added Date |
: |
Tuesday, February 26, 2013 |
|
Researchers
| رواء عبدالرازق باعكظة | Baathkah, Rwaa Abdulrzak | Investigator | Master | |
|
Files
|
35080.pdf
| pdf | المعلومات المحاسبية |
|