Abstract
The study has examined the stock prices reactions to quarterly earnings announcements released during trading versus non-trading hours. An event study method is applied to test whether the Indian stock market is semi-efficient. The NSE Nifty 500 companies are included in our sample. The sales, profit, and EPS figures from the current year are compared to similar quarters from the prior year to determine earnings changes. According to the study, the market's reaction to the announcements both during and non- trading hours was similar. We found that Firms generally released positive earnings changes during trading hours and negative earnings changes outside of regular trading hours. An empirical examination of CARs for multi-day event windows indicates there is market inefficiency and that there is a delayed price reactions.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
