Explain in your own words what post-announcement drift is. Why is this an anomaly for securities market

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Explain in your own words what “post-announcement drift” is. Why is this an anomaly for securities market efficiency? Does post-announcement drift necessarily imply that investors are not rational?

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Financial Accounting Theory

ISBN: 9780132072861

5th Edition

Authors: William R Scott

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Question Posted: Jun 06, 2024 01:20 AM

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Explain in your own words what post-announcement drift is. Why is this an anomaly for securities market

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Financial Accounting Theory

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