Research Spotlight: Do Risk Disclosures Matter When It Counts? Evidence from the Swiss Franc Shock

Datapoints’ Research Spotlight series returns to highlight a paper co-authored by Wharton Accounting faculty member Luzi Hail. Published in the Journal of Accounting Research 59 (1), “Do Risk Disclosures Matter When It Counts? Evidence from the Swiss Franc Shock” uses the 2015 decision by the Swiss National Bank to abandon the minimum euro-Swiss franc exchange rate to examine how the quality of previous risk disclosures enables investors to more knowledgably process and interpret new information. 

The authors used Bloomberg to extract minute-by-minute intraday spread data from 237 publicly traded firms with a primary listing in Switzerland. They were also able to narrow the list to firms that were constituents of the SSIP at the end of 2014. Bloomberg is the definitive source of information for security pricing, indicative and fundamental data, customized analytics and business news. 

For more information on using Bloomberg, please contact a Lippincott Librarian.  

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