Promoting informativeness via staggered information releases
By Ram Ramanan
Review of Accounting Studies | 2015
DOI
link.springer.com/content/pdf/10.1007/s11142-014-9307-6.pdf?pdf=button
Citation
Ramanan, Ram. Promoting informativeness via staggered information releases Review of Accounting Studies link.springer.com/content/pdf/10.1007/s11142-014-9307-6.pdf?pdf=button.
Copyright
Review of Accounting Studies, 2015
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Abstract
When a firm has multiple pieces of information, this study shows that the firm does better from staggering the release of information than from expeditiously releasing all information at once. This is because releasing multiple pieces of information over time allows the firm to learn from the market’s response to each piece of information. In contrast, releasing all information at once impedes the firm’s ability to learn from the aggregate market response to all information. In effect, delaying the release of some information may improve the firm’s capacity to fine-tune follow-up decisions based on the market’s reactions.

Ram Ramanan is an Associate Professor of Accounting at the Indian School of Business (ISB). Before joining ISB, he served as a faculty member at the University of California, Davis and at SUNY, Binghamton.

Professor Ramanan’s research focuses on the role of accounting in management decisions. Specifically, he examines the incentive effects of financial reports and disclosures on various managerial decisions both inside an organisation and within supply chains. His work has been published in leading academic journals, including The Accounting Review, Journal of Accounting and Economics, The Review of Accounting Studies, Contemporary Accounting Research, Management Science, and Production and Operations Management.

At ISB Professor Ramanan teaches the core Managerial Accounting course and the elective in Strategic Performance Management.

Professor Ramanan holds a PhD in Accounting from the Kellogg School of Management, Northwestern University, and an MBA from the Indian Institute of Management, Bangalore. He is also a Chartered Accountant.

Nv Ramanan
Ram Ramanan