A Study of Quarterly Earnings Announcement and Stock Price Reactions

T Mallikarjunappa and Janet Jyothi Dsouza

The IUP Journal of Applied Finance, 2014, vol. 20, issue 4, 94-106

Abstract: The purpose of the study is to investigate whether there are any significant abnormal returns around the quarterly earnings announcement and to examine whether the semi-strong form of Efficient Market Hypothesis (EMH) applies to the Indian stock market. This study focuses on the BSE200 index-based companies listed on the Bombay Stock Exchange (BSE) and uses quarterly earnings announcement as an event. We use event study methodology to examine the behavior of the stock prices. The results show that the security prices are predictable based on quarterly earnings announcement information and predictability can generate abnormal profits.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjaf:v:20:y:2014:i:4:p:94-106

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