文章基本信息

标题：Home Health Care Services: A Look At Audit Opinion Announcements And The Contagion Or Competitive Effect On Rival Firms
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作者：R. Stephen Elliott ; Mark Schaub
期刊名称：Journal of Business & Economics Research
印刷版ISSN：1542-4448
电子版ISSN：2157-8893
出版年度：2011
卷号：2
期号：5
语种：English
出版社：The Clute Institute for Academic Research
摘要：With the aging of the American population and the increase in demand for health care services, we can expect an increase in investment activity in the health care market. This study focuses on whether intra-industry information transfers from going-concern audit opinion announcements create contagion or competitive stock price reactions in rival home health care firms. Data are derived from a sample of firms traded on the NASDAQ, the New York Stock Exchange, or the American Stock Exchange. Average standardized abnormal returns for each firm are computed during an 8-year period. The findings suggest a dominating competitive effect for rival home health care and miscellaneous home service firms significant at the .05 level.