This study takes Taiwan-listed common stocks with monthly revenue hit record-high from January 2013 to December 2021 as a sample. The event study method is used to test the announcement effect. The results show that stock prices have significant positive abnormal reactions around the revenue announcement date. That is, stock prices have a significant positive announcement effect on news of monthly revenue hitting a record high. Additionally, there is a positive relationship between the announcement effect and its ratio of monthly revenue to the historically highest monthly revenue and a negative relationship between the announcement effect and its monthly revenue size.
關聯:
International Journal of Information and Management Sciences, Vol. 36, No. 1, p. 49-64
