Stock prices’ variability around earnings announcement dates at Karachi Stock Exchange
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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https://hdl.handle.net/10642/1648Utgivelsesdato
2012Metadata
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Originalversjon
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/10.1155/2012/463627Sammendrag
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