Event Day 0? After-Hours Earnings Announcements

Henk Berkman and Cameron Truong

Journal of Accounting Research, 2009, vol. 47, issue 1, pages 71-103

Abstract: ABSTRACTIn recent years, the proportion of after-hours earnings announcements has increased to more than 40%. For after-hours announcements, earnings-related volume and price changes are not observed on the Compustat or I/B/E/S earnings announcement date, but one trading day later. This study demonstrates the importance of accounting for after-hours announcements for event studies around earnings announcements. Copyright (c), University of Chicago on behalf of the Institute of Professional Accounting, 2008.

Date: 2009

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