Stock prices’ variability around earnings announcement dates at Karachi Stock Exchange

Author(s)

Publication date

2012

Series/Report no

Economics Research International;2012

Publisher

Hindawi Publishing Corporation

Document type

Abstract

The purpose of this study is to investigate how earnings announcement event affects stock returns at Karachi Stock Exchange (KSE). For this purpose we use the KSE-100 Index as our sample. We use the CAR Analysis to analyze the impact of earnings announcement over the stock returns around announcement dates. Our results suggest that KSE experiences abnormal stock returns around earnings announcement dates for the overall market and for different categories which indicate that efficient market hypothesis does not hold in Pakistani market and point out the presence of informational dissemination inefficiencies in the market

Keywords

Version

Copyright © 2012 Muhammad Azeem Qureshi et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Permanent URL (for citation purposes)

  • http://hdl.handle.net/10642/1648