Do Investors Overreact to Earnings Surprises? Evidence from NIFTY 100

Simple item page
dc.contributor.author1) Prof. Amit Bathia 2) Dr. Kushagra Goel 3) Dr. Mangesh Nigudkar* 4) Dr. Mukund Madhav Tripathi 5) Prof. Prasad Naik 6) Prof. Sameer Popat
dc.date.accessioned2025-09-10T06:24:40Z
dc.date.available2025-09-10T06:24:40Z
dc.date.issued2025-09-05
dc.description.abstractThis study takes a closer look at how investors react to earnings surprises from the Nifty 100 companies for Q3 from the financial year 2022-2025. Earnings announcements are financial events that can bring in a change in stock prices, often driven by the emotions of investors. This research analyzes the percentage change in the stock prices after the earnings announcement has been made to determine the investors’ overreaction to the unexpected earnings, if any. We have assessed the post-earnings stock price pattern to understand market efficiency and the implications of earnings surprises. By analyzing cumulative abnormal returns (CAR) in the days following earnings announcements, we assess whether investors exhibit overreaction and subsequent correction. The research differentiates between negative and positive surprises, applying a paired t-test and the Wilcoxon Signed Rank Test to evaluate statistical significance. Additionally, normality tests were conducted to determine the appropriate statistical approach, ensuring the robustness of results.
dc.identifier.citationBathia, A. ., Goel, K., Nigudkar, M., Tripathi, M. M., Naik, P., & Popat, S. (2025). Do Investors Overreact to Earnings Surprises? Evidence from NIFTY 100. International Insurance Law Review, 33(S4), 185-196. https://doi.org/10.64526/iilr.33.S4.11
dc.identifier.urihttps://atlasuniversitylibraryir.in/handle/123456789/1136
dc.language.isoen
dc.publisherLumar Publisher
dc.subjectEarnings announcements
dc.subjectNifty 100
dc.subjectFinancial markets
dc.subjectMarket efficiency
dc.subjectCumulative abnormal returns
dc.subjectEarnings Surprises
dc.titleDo Investors Overreact to Earnings Surprises? Evidence from NIFTY 100

Files

Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
33.S4.11.pdf
Size:
272.73 KB
Format:
Adobe Portable Document Format
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

2025