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A Note On Firm Size, Information Availability And Market Reactions To Us Stock Ownership Reporting Announcements

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  • James Patrick Reburn

Abstract

This note examines cross‐sectional differences in market reaction to five percent stock ownership reporting announcements. The results presented here document an inverse relationship between firm size and market reaction. Specifically, the announcement day market reaction is 310 percent larger for a portfolio of small firms compared to a portfolio of large firms.

Suggested Citation

  • James Patrick Reburn, 1994. "A Note On Firm Size, Information Availability And Market Reactions To Us Stock Ownership Reporting Announcements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 21(3), pages 445-455, April.
    • Handle: RePEc:bla:jbfnac:v:21:y:1994:i:3:p:445-455
    DOI: 10.1111/j.1468-5957.1994.tb00329.x
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    References listed on IDEAS

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