/2015 14 Sample Formation 6/29/2015 15 Descriptive Statistics 6/29/2015 16 Empirical Test – Q1 • Estimating Pricing Effects of Future Earnings Uncertainty 6/29/2015 17 Empirical Test – Q1 • I empirically

influences the buy-sell asymmetry of (permanent) price impact” – Asymmetry in price impacts decreases with the stocks’ historical performance. (Saar, 2001)  never been empirically tested. Background on Price

empirically provides rational explanations for this phenomenon by investigating whether the incremental pricing effects are determined by future earnings uncertainty and firm fundamentals that are founded on

, the media industry is expected to grow by 10%2. Empirically, VGI has benefitted from the improving performance in media industry with a significantly better order intake after the Royal Cremation

nine emerging markets in Asia Pacific over the period of 2010 to 2016. These CSR proxies include environmental, social, and governance pillar scores. This study empirically demonstrates that traditional