The study documents high information content and Post-Earning Announcement Drift (PEAD) phenomenon of the turnaround companies in India. Turnaround companies are defined as those which after reporting accounting loss consecutively for two or more quarters announce profit for the first time. By...

Purpose: The paper examines the determinants, financial characteristics and the stock returns of the Indian firms holding excessive liquidity during post-meltdown period of 2008-12. Design/methodology/approach: The research design is essentially based on fixed effect model developed by Opler,...

Turnaround companies are defined as those which after reporting accounting loss consecutively for two or more quarters announces profit for the first time. Between 2004 and 2009 by analyzing the data of 49 such turnaround companies, we document about 9% cumulative average abnormal return (CAAR)...