EXECUTIVE TAKEAWAYS
■ We examine Keynes' prediction on stock price behavior in disruptive technology firms. ■ We predict strong market and analyst reactions to public information on disruptive technology firms. ■ Market reactions to earnings announcements are stronger for disruptive technology firms than their counterparts. ■ Analysts' price revisions to earnings announcements are stronger for disruptive technology firms than their counterparts.
Marcus Caylor, Professor of Accounting Duanping Hong, Assistant Professor of Accounting Hyungshin Park, Assistant Professor of Accounting Hong Qu, Assistant Professor of Accounting
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