{"id":2177,"date":"2021-01-11T16:43:07","date_gmt":"2021-01-11T16:43:07","guid":{"rendered":"https:\/\/research.reading.ac.uk\/economics\/?post_type=tribe_events&p=2177"},"modified":"2021-01-13T08:14:22","modified_gmt":"2021-01-13T08:14:22","slug":"yongda-liu-icma-tbc-phd-seminar","status":"publish","type":"tribe_events","link":"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/","title":{"rendered":"Yongda Liu (ICMA) “Internal Information Quality and Financial Policy Peer Effects” – PhD Seminar"},"content":{"rendered":"

Abstract<\/strong><\/p>\n

This paper investigates how firms’ internal information quality influences the peer effects in its financial policy. By employing earning announcement speed and insider trading profitability difference as measurements, we find that firms with low internal information quality have a high propensity of mimicking the capital structure decision of its product market peers and, by doing so, firms\u2019 operating performance suffers. Our further analysis shows that poor information quality could amplify the agency problem, therefore inducing more peer mimicking.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abstract This paper investigates how firms’ internal information quality influences the peer effects in its financial policy. By employing earning announcement speed and insider trading profitability difference as measurements, we…Read More ><\/a><\/p>\n","protected":false},"author":206,"featured_media":0,"template":"","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"__cvm_playback_settings":[],"__cvm_video_id":"","_tribe_events_status":"","_tribe_events_status_reason":"","footnotes":""},"tags":[],"tribe_events_cat":[11],"coauthors":[25],"class_list":["post-2177","tribe_events","type-tribe_events","status-publish","hentry","tribe_events_cat-phd-seminars","cat_phd-seminars"],"acf":[],"aioseo_notices":[],"yoast_head":"\nYongda Liu (ICMA) "Internal Information Quality and Financial Policy Peer Effects" - PhD Seminar - Economics Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yongda Liu (ICMA) "Internal Information Quality and Financial Policy Peer Effects" - PhD Seminar - Economics Research\" \/>\n<meta property=\"og:description\" content=\"Abstract This paper investigates how firms’ internal information quality influences the peer effects in its financial policy. By employing earning announcement speed and insider trading profitability difference as measurements, we...Read More >\" \/>\n<meta property=\"og:url\" content=\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/\" \/>\n<meta property=\"og:site_name\" content=\"Economics Research\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-13T08:14:22+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n\t<meta name=\"twitter:label2\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data2\" content=\"Carl Singleton\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/\",\"url\":\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/\",\"name\":\"Yongda Liu (ICMA) \\\"Internal Information Quality and Financial Policy Peer Effects\\\" - PhD Seminar - Economics Research\",\"isPartOf\":{\"@id\":\"https:\/\/research.reading.ac.uk\/economics\/#website\"},\"datePublished\":\"2021-01-11T16:43:07+00:00\",\"dateModified\":\"2021-01-13T08:14:22+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/research.reading.ac.uk\/economics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Events\",\"item\":\"https:\/\/research.reading.ac.uk\/economics\/events\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Yongda Liu (ICMA) “Internal Information Quality and Financial Policy Peer Effects” – PhD Seminar\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/research.reading.ac.uk\/economics\/#website\",\"url\":\"https:\/\/research.reading.ac.uk\/economics\/\",\"name\":\"Economics Research\",\"description\":\"A hub of news, events, publications & research clusters \",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/research.reading.ac.uk\/economics\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Yongda Liu (ICMA) \"Internal Information Quality and Financial Policy Peer Effects\" - PhD Seminar - Economics Research","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/research.reading.ac.uk\/economics\/event\/yongda-liu-icma-tbc-phd-seminar\/","og_locale":"en_GB","og_type":"article","og_title":"Yongda Liu (ICMA) \"Internal Information Quality and Financial Policy Peer Effects\" - PhD Seminar - Economics Research","og_description":"Abstract This paper investigates how firms’ internal information quality influences the peer effects in its financial policy. 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