Market structure, predisclosure information level and the market response to earnings in the trucking industry after deregulation /
This study examines the 1978 deregulation of interstate motor carriers. The study tests the effects of the changes in the level of competition, and information availability on capital markets. Because the deregulation of trucking was accompanied by gradual reductions of regulatory reporting requir...
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| Format: | Thesis Book |
| Language: | English |
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[Place of publication not identified] :
[publisher not identified] ;
2000.
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| Subjects: | |
| Online Access: | http://proxy.library.tamu.edu/login?url=http://proquest.umi.com/pqdweb?did=731930381&sid=1&Fmt=2&clientId=2945&RQT=309&VName=PQD |
| Summary: | This study examines the 1978 deregulation of interstate motor carriers. The study tests the effects of the changes in the level of competition, and information availability on capital markets. Because the deregulation of trucking was accompanied by gradual reductions of regulatory reporting requirements, this industry presents a unique opportunity to study these changes independently. A history of the trucking industry is included to identify key dates of changes. Earnings response coefficients (ERC) both firms specific (Teets 1992) and industry specific, are used to measure the effects of the changes. Firms from both regulated (electric utilities) and competitive industries were used to set ERC benchmarks. Results indicate greater price response to earnings changes in the deregulated trucking industry as expected, while information changes reduced price responsiveness. |
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| Item Description: | Vita. "Major Subject: Accounting". |
| Physical Description: | vi, 93 leaves ; 28 cm. Issued also on microfiche from University Microfilm Inc. |
| Bibliography: | Includes bibliographical references (leaves 66-72). |