Real-Time Financial Reporting and Market Dynamics: Evidence from Pepsico’s SEC Filings (2010–2023)

This study investigates the link between real-time financial reporting and market dynamics using PepsiCo’s SEC filings from 2010 to 2023. By analyzing 10-K, 10-Q, and 8-K reports, the research evaluates the effects of reporting quality, timeliness, and disclosure frequency on stock price volatility, earnings response coefficients, and trading volume. The results show that higher reporting quality reduces information asymmetry and enhances market efficiency. Timely filings are associated with stronger market reactions to earnings announcements, while quarterly disclosure frequency improves price discovery but slightly raises short-term volatility. These outcomes offer practical insights for regulators, investors, and corporate managers in designing effective disclosure strategies.