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

Qureshi, Muhammad Azeem; Abdullah, Ali; Imdadullah, Muhammad
Journal article, Peer reviewed
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
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URI
https://hdl.handle.net/10642/1648
Date
2012
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Original version
Qureshi, M. A., Abdullah, A., & Imdadullah, M. (2012). Stock Prices’ Variability around Earnings Announcement Dates at Karachi Stock Exchange. Economics Research International, 2012.   http://dx.doi.org/10.1155/2012/463627
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
Publisher
Hindawi Publishing Corporation
Series
Economics Research International;2012