Investors process qualitative information differently according to the underlying topic
A roundup of academic research from the world of IR studies
How investors process the textual tone and content of corporate press releases varies greatly across topics, according to scientists at the University of Freiburg in Germany. For example, an upbeat announcement on financial performance or management changes is likely to be received positively among investors and lead to a stock price uptick. On the other hand, research evidence suggests that using the same tone when announcing an M&A or share issue will backfire. ‘Investors process qualitative
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