21 Event Study on Corporate Guidance P IN 4 WRDS: username= acct352fall; password = Acctdata2023 ChatGPT: generate your own username and password 1581 14 21 5 # 6 For this assignment, you need access to WRDS (Wharton Research Data Services), and you need access to ChatGPT. EVENT STUDY ON ANNOUNCEMENT OF CORPORATE GUIDANCE INFORMATION Corporate officials (CEOs, CFOs) release forward-looking information that provides analysts and shareholders with insight regarding a company's expected revenue, earnings, and operational goals in the time periods ahead. This corporate guidance information can be positive (raised guidance) or negative (lowered guidance). The corporate guidance information, also called forward-looking statements, is usually given in conference calls and then reported in the financial press. K In this event study, we examine the impact of these announcements on the stock market. We expect a positive (negative) impact on the stock market if the corporate officials raise (lower) the guidance informat