Famous Firms, Earnings Clusters, and the Stock Market

On earnings announcement cluster days the return is, for our main speciļ¬cation, 34 bps/day in excess of risk-free rate. ... (2016),JohnsonandSo(2018),etc. 2SeeforexampleSavorandWilson(2013),SavorandWilson(2014),LuccaandMoench ... the market by around 27 bps for a total daily return of 61 bps, but the rest of the ... ................
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