Abstract The “Post-Earnings-Announcement Drift” refers to an anomaly in financial markets.
It describes the drift of a firm's stock price in the direction of the firm's earnings surprise for an …

This paper investigates market efficiency of the Jamaica Stock Exchange (JSE). Together,
weak and semi-strong form efficiency claim that historical and newly released public …

Investors often hold differing opinions on public information quality. This paper shows that
such investor disagreement provides a novel explanation for financial market dynamics …

We investigate whether the consensus of institutional investors to buy, sell, or hold a
particular property type in a particular quarter can improve the information environment in …

In this study, we examine whether investors' opinion divergence has explanatory power for
post-earnings announcement drift in equity real estate investment trusts (REITs). We …

Accounting literature offers three possible determinants of informationally driven trading
volume at earnings announcements: differential interpretation of public news, pre …

abstract The ''Post-Earnings-Announcement Drift''refers to an anomaly in financial markets. It
describes the drift of a firm's stock price in the direction of the firm's earnings surprise for an …

Investor homogeneity is an important assumption in the efficient market hypothesis.
However, viewing the financial markets from the eye of a professional trader, they are never …

In this study, we examine the media coverage effect on abnormal trading volume using two
frameworks: divergence of opinion and information asymmetry. Our sample consists of 420 …

Using proprietary market microstructure data of Milan Stock Exchange and strategic plan
presentations of Italian firms as disclosure events we explore the distributional effects of …