Post-earnings-announcement drift: Some preliminary evidence for the UK

Denis Hew, Len Skerratt, Norman Strong, Martin Walker

Research output: Contribution to journalArticlepeer-review


This paper tests for the presence of post-earnings-announcement drift on the London Stock Exchange using data for seven half-years for a constant sample of 206 quoted companies. Separate results are presented for interim and final earnings announcements and the results are disaggregated by firm size. Overall, we find evidence of significant drift for the earnings announcements of small firms but not for the announcements of large firms.
Original languageEnglish
Pages (from-to)283-293
Number of pages10
JournalAccounting and Business Research
Issue number4
Publication statusPublished - Sept 1996


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