Event Day 0? After‐Hours Earnings Announcements

Henk Berkman and Cameron Truong

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

Abstract: In 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.

Date: 2009
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https://doi.org/10.1111/j.1475-679X.2008.00312.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:joares:v:47:y:2009:i:1:p:71-103

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Journal of Accounting Research is currently edited by Philip G. Berger, Anna Costello, Luzi Hail, Valeri Nikolaev, Haresh Sapra, Laurence van Lent and Regina Wittenberg Moerman

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