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Riding The Blockchain Mania: Public Firms’ Speculative 8-K Disclosures, Pengkai Lin
Riding The Blockchain Mania: Public Firms’ Speculative 8-K Disclosures, Pengkai Lin
Research Collection School Of Accountancy
This paper provides evidence on public firms' initial 8-K disclosures that mention Blockchain and investors' response to these disclosures. We categorize the description of Blockchain activities in firms' 8-Ks as Speculative (e.g., a vague future plan that involves Blockchain) or Existing (e.g., a description of Blockchain product). We document a sharp increase in the number of initial 8-K disclosures of Blockchain, particularly by Speculative firms, coinciding with the rise of Bitcoin prices and excitement in Blockchain technology in the last quarter of 2017. Investors react positively to the Blockchain 8-Ks issued by Speculative firms in the initial seven-day event window …
Financial Market Implications Of Marketing Actions And The Disclosure Of Marketing Information, Sungkyun Moon
Financial Market Implications Of Marketing Actions And The Disclosure Of Marketing Information, Sungkyun Moon
Dissertations and Theses Collection (Open Access)
This dissertation contributes to marketing literature by examining the effects of marketing actions and the disclosure of marketing information through the financial market perspective that has high managerial relevance and policy implications. Specifically, the first essay provides the first empirical examination of the effects of the disclosure of advertising spending on investors’ and analysts’ uncertainty. It is responsive to calls by Marketing Science Institute and Marketing Accountability Standard Board to examine the consequences of disclosure of marketing metrics. The second essay examines the effect of advertising spending on firm value and explores firm and market level contingency effects. By doing …