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DTSTAMP:20260417T085342Z
DESCRIPTION:\n	Abstract:\n\n\nForeign public issuers (FPIs) are required by 
 the Securities and Exchanges Commission (SEC) to file Form 20-F as compreh
 ensive annual reports. In an effort to increase the usefulness of 20-Fs\, 
 the SEC recently enacted a regulation to accelerate the deadline of 20-F f
 iling from six months to four months after the fiscal year-end. The ration
 ale is that the shortened reporting lag would improve the informational re
 levance of 20-Fs. In this work we propose a jump additive model to evaluat
 e the SEC’s rationale by investigating the relationship between the timeli
 ness of 20-F filing and its decision usefulness using the market data. The
  proposed model extends the conventional additive models to allow possible
  discontinuities in the regression functions. We suggest a two-step jump-p
 reserving estimation procedure and show that it is statistically consisten
 t. By applying the procedure to the 20-F study\, we find a moderate positi
 ve association between the magnitude of the market reaction and the filing
  timeliness when the acceleration is less than 17 days. We also find that 
 the market considers the filings significantly more informative when the a
 cceleration is more than 18 days and such reaction tapers off when the acc
 eleration exceeds 40 days.\n\n\n	Speaker\n\n\nYicheng Kang is an Assistant 
 Professor in the Department of Mathematical Sciences at Bentley University
 . His research interests include business analytics\, statistical image an
 alysis\, statistical quality control and quality management. Before joinin
 g Bentley\, he was a statistician at JPMorgan and worked on models for int
 erest rate and securitized products.\n\nZoom Link\n\nMeeting ID: 843 0865 
 5572\n\nPasscode: 690084\n
DTSTART:20210319T193000Z
DTEND:20210319T203000Z
SUMMARY:Yicheng Kang (Bentley University)
URL:https://www.mcgill.ca/mathstat/channels/event/yicheng-kang-bentley-univ
 ersity-329668
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