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Article: The five-day workweek system and investor inattention

TitleThe five-day workweek system and investor inattention
Authors
Kim, TWWie, D
Keywordsearnings announcements
Friday inattention
Investor inattention
investor reaction
workweek system
Issue Date2018
PublisherTaylor & Francis (Routledge) for City University of Hong Kong. The Journal's web site is located at http://www.tandfonline.com/toc/raae20/current
Citation
Asia-Pacific Journal of Accounting & Economics , 2018, v. 25 n. 3-4, p. 419-432 How to Cite?
DOI: http://dx.doi.org/10.1080/16081625.2017.1298455
AbstractIn this paper, we show that work schedule is a key factor driving investor inattention to Friday earnings announcements using the introduction of the five-day workweek system in the financial sector of Korea in 2002 as a natural experiment. Our analyses show a stronger immediate response and a weaker delayed response to Friday news under the six-day workweek system. The trend was, however, reversed under the five-day workweek system. We also find out consistent evidence from the movement of trading volume. These findings demonstrate that the trade-off between weekend distraction and additional working hours during the weekend determines investors’ attention to Friday earnings announcements.
Persistent Identifierhttp://hdl.handle.net/10722/258892
ISSN
1608-1625
2023 Impact Factor: 1.4
2023 SCImago Journal Rankings: 0.318
ISI Accession Number ID
WOS:000430092700007

 

DC FieldValueLanguage
dc.contributor.authorKim, TW-
dc.contributor.authorWie, D-
dc.date.accessioned2018-09-03T03:57:36Z-
dc.date.available2018-09-03T03:57:36Z-
dc.date.issued2018-
dc.identifier.citationAsia-Pacific Journal of Accounting & Economics , 2018, v. 25 n. 3-4, p. 419-432-
dc.identifier.issn1608-1625-
dc.identifier.urihttp://hdl.handle.net/10722/258892-
dc.description.abstractIn this paper, we show that work schedule is a key factor driving investor inattention to Friday earnings announcements using the introduction of the five-day workweek system in the financial sector of Korea in 2002 as a natural experiment. Our analyses show a stronger immediate response and a weaker delayed response to Friday news under the six-day workweek system. The trend was, however, reversed under the five-day workweek system. We also find out consistent evidence from the movement of trading volume. These findings demonstrate that the trade-off between weekend distraction and additional working hours during the weekend determines investors’ attention to Friday earnings announcements.-
dc.languageeng-
dc.publisherTaylor & Francis (Routledge) for City University of Hong Kong. The Journal's web site is located at http://www.tandfonline.com/toc/raae20/current-
dc.relation.ispartofAsia-Pacific Journal of Accounting & Economics -
dc.rightsPreprint: This is an Author's Original Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online: http://www.tandfonline.com/doi/abs/[Article DOI]. Postprint: This is an Accepted Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online at: http://www.tandfonline.com/doi/abs/[Article DOI]. -
dc.subjectearnings announcements-
dc.subjectFriday inattention-
dc.subjectInvestor inattention-
dc.subjectinvestor reaction-
dc.subjectworkweek system-
dc.titleThe five-day workweek system and investor inattention-
dc.typeArticle-
dc.identifier.emailKim, TW: twkim@hku.hk-
dc.identifier.authorityKim, TW=rp02157-
dc.identifier.doi10.1080/16081625.2017.1298455-
dc.identifier.scopuseid_2-s2.0-85014541853-
dc.identifier.hkuros289214-
dc.identifier.volume25-
dc.identifier.issue3-4-
dc.identifier.spage419-
dc.identifier.epage432-
dc.identifier.isiWOS:000430092700007-
dc.publisher.placeHong Kong-
dc.identifier.issnl1608-1625-

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