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Choi, Hyunjung
Applied economics letters, 07/2024, Letnik: 31, Številka: 13Journal Article
This study investigates the relationship between a firm with a sufficient number of personnel in charge of its internal controls and post-earnings announcement drift (PEAD). Having enough internal control personnel is expected to increase the transparency and reliability of accounting information, reduce the delay in investors' decision-making, and ultimately reduce PEAD. The empirical results show that PEAD is reduced when the size of a firm's internal control workforce is adequate. This study contributes to the literature by finding that having a sufficient number of internal personnel responsible for a company's accounting information is an additional factor that influences PEAD.
