Indian Journal of Finance
By: Associated Management Consultants (P) Ltd.Single Issue
Single Issue
- IJF-July09-Article7-Indian Stock Market Reaction To The Quarterly Earnings Information
- Price : 80.00
- Published on July 1, 2009
- Associated Management Consultants (P) Ltd.
- Issues 356
- Language - English
- Published daily
About this issue
This paper examines stock market reaction to the earnings announcements by taking December 2001 quarter earnings announcement as an event. The study is based on 152 companies having minimum 20 percent foreign holdings. The companies are divided into, good news, bad news and overall portfolios. We have used event study methodology, t test, Runs test, sign test, raw returns and log returns. The behaviour of AARs and CAARs are examined for 30 days before and 31 days after the announcement of quarterly earnings. The results of the study revealed that stock market reaction to the earnings announcements is delayed.
About Indian Journal of Finance
Indian Journal of Finance, a source of sophisticated analysis of developments in the rapidly expanding world of finance, is a monthly journal with topics ranging from corporate to personal finance, insurance to financial economics and derivatives.