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 …

Historically, bubbles are followed by crashes, which in turn are followed by punitive
legislation. The 1999–2003 era is fully consistent with this pattern….(Coffee, 2003a, p. 46) …

Prior research suggests that the earnings expectations of a segment of the market can be
described by the seasonal random‐walk model. Prior research also provides evidence that …

Drawing from many sources in the literature, Stochastic Dominance and Applications to
Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a …

This paper examines the market efficiency of oil spot and futures prices by using both mean-
variance (MV) and stochastic dominance (SD) approaches. Based on the West Texas …

We employ the stochastic dominance approach that utilizes the entire return distribution to
rank the performance of Asian hedge funds as traditional mean-variance and CAPM …

Both stochastic dominance and Omegaratio can be used to examine whether the market is
efficient, whether there is any arbitrage opportunity in the market and whether there is any …

Post-earnings announcement drift (PEAD) which was first identified over 40 years ago
seems to be as much alive today as it ever was. Numerous attempts have been made to …

Drifting in the direction of earnings surprises for a prolonged period is a decades-puzzling
financial anomaly, ie, the “post-earnings-announcement drift”(PEAD). This paper provided a …

We consider a (B, S)-security market with standard riskless asset B (t)= B0ert and risky asset
S (t) with stochastic volatility depending on time t and the history of stock price over the …