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...

Way back in 1934, Graham and Dodd observed the importance of earning power in investment theory. According to them, history of actual earning with a reasonable expectation should be approximated in future. The empirical study of Ball and Brown (1968) contends that of all the sources of...

Based on ‘ agency theory' the present study argues that in a negotiated and collateral security based debt financing system where the need for debt financing of the firms is largely met by the banks in absence of active and liquid corporate debt market , there should be a two way relationship...

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)...