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- Publisher Website: 10.1080/16081625.2017.1298455
- Scopus: eid_2-s2.0-85014541853
- WOS: WOS:000430092700007
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Article: The five-day workweek system and investor inattention
Title | The five-day workweek system and investor inattention |
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Authors | |
Keywords | earnings announcements Friday inattention Investor inattention investor reaction workweek system |
Issue Date | 2018 |
Publisher | Taylor & 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? |
Abstract | In 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 Identifier | http://hdl.handle.net/10722/258892 |
ISSN | 2023 Impact Factor: 1.4 2023 SCImago Journal Rankings: 0.318 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Kim, TW | - |
dc.contributor.author | Wie, D | - |
dc.date.accessioned | 2018-09-03T03:57:36Z | - |
dc.date.available | 2018-09-03T03:57:36Z | - |
dc.date.issued | 2018 | - |
dc.identifier.citation | Asia-Pacific Journal of Accounting & Economics , 2018, v. 25 n. 3-4, p. 419-432 | - |
dc.identifier.issn | 1608-1625 | - |
dc.identifier.uri | http://hdl.handle.net/10722/258892 | - |
dc.description.abstract | In 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.language | eng | - |
dc.publisher | Taylor & 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.ispartof | Asia-Pacific Journal of Accounting & Economics | - |
dc.rights | Preprint: 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.subject | earnings announcements | - |
dc.subject | Friday inattention | - |
dc.subject | Investor inattention | - |
dc.subject | investor reaction | - |
dc.subject | workweek system | - |
dc.title | The five-day workweek system and investor inattention | - |
dc.type | Article | - |
dc.identifier.email | Kim, TW: twkim@hku.hk | - |
dc.identifier.authority | Kim, TW=rp02157 | - |
dc.identifier.doi | 10.1080/16081625.2017.1298455 | - |
dc.identifier.scopus | eid_2-s2.0-85014541853 | - |
dc.identifier.hkuros | 289214 | - |
dc.identifier.volume | 25 | - |
dc.identifier.issue | 3-4 | - |
dc.identifier.spage | 419 | - |
dc.identifier.epage | 432 | - |
dc.identifier.isi | WOS:000430092700007 | - |
dc.publisher.place | Hong Kong | - |
dc.identifier.issnl | 1608-1625 | - |