Home > Search Results: Čonka, Matěj
Search:
Search Tips :: Advanced Search
Search collections:
Sort by: Display results: Output format:
National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Event Study on Financial Announcements: New Evidence of Stock Sensitivity and Post-Earnings-Announcement Drift
 Čonka, Matěj ; Krištoufek, Ladislav (advisor) ; Habiňák, Ladislav (referee)
This thesis investigates the presence of abnormal returns after the companies announce their earnings (earnings-price anomaly) on 23 companies listed on STOXX 50 Europe index. Weuse the event studies framework and we summarize main models for abnormal returns' estimation with closer look on the Market Model and CAPM. We do not find considerable value added when using more complex CAPM compared to the Market Model. The results show significant abnormal returns for good news and bad news earnings surprises with bigger market reaction on good news earnings surprises. The findings also provide the evidence of market inefficiency and the possibility of pre-announcement leakage of information. We find post-earnings-announcement drift for good news earnings surprisesandthepresenceofcontrarianreturns.
Detailed record

See also: similar author names
4 Čonka, Martin
Interested in being notified about new results for this query?
Subscribe to the RSS feed.
Digital Repository :: Search :: Submit :: Personalize :: Help
Powered by Invenio v1.1.2
Maintained by admin.invenio@techlib.cz
This site is also available in the following languages:
Česky  English