Earnings Uncertainty and Nonprofessional Intermediaries

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dc.contributor.advisorSeybert, Nicken_US
dc.contributor.authorHyman, Cody Alyssaen_US
dc.contributor.departmentBusiness and Management: Accounting & Information Assuranceen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2021-07-13T05:31:21Z
dc.date.available2021-07-13T05:31:21Z
dc.date.issued2021en_US
dc.description.abstractPrior research is mixed on individual investors’ ability to utilize earnings information and generally credits professional information intermediaries with alleviating processing costs. Over the past decade, individual investors increasingly rely on online social networks to help them process the information they use to trade. This paper investigates the role of earnings uncertainty (persistence, predictability, smoothness, and accrual quality) as a processing cost and the ability of nonprofessional intermediaries to ameliorate this cost. Using comments and trades made on a popular social trading platform as raw and applied information, respectively, I show that raw information is impeded by earnings uncertainty while applied information reduces integration costs to improve the use of earnings information.en_US
dc.identifierhttps://doi.org/10.13016/l11q-flwf
dc.identifier.urihttp://hdl.handle.net/1903/27345
dc.language.isoenen_US
dc.subject.pqcontrolledAccountingen_US
dc.subject.pquncontrolledEarnings Qualityen_US
dc.subject.pquncontrolledEarnings Uncertaintyen_US
dc.subject.pquncontrolledIndividual Investorsen_US
dc.subject.pquncontrolledInformation Intermediariesen_US
dc.subject.pquncontrolledInformation Processing Costsen_US
dc.subject.pquncontrolledSocial Networksen_US
dc.titleEarnings Uncertainty and Nonprofessional Intermediariesen_US
dc.typeDissertationen_US

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