The apparent predictability of stock return following an earnings announcement is a persistent and well-documented anomaly that seems to be in conflict with the market efficiency hypothesis. It remains uncovered to date. This thesis investigates the relation between the post-earnings-announcement drift anomaly and liquidity over the period 1972-2004. The results show that liquidity is fundamentally associated with the post-earnings-announcement drift.Management and Business Studies
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:489536 |
| Date | January 2007 |
| Creators | Ma, Jingling |
| Publisher | University of Manchester |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
Page generated in 0.0017 seconds