This paper aims at studying the market response surrounding profit warnings as well as annual earnings announcements. Relatively few academic researches have investigated these issues. Our empirical survey based on an event study, points out a strong negative residual stock returns around profit...

This study examines the main problem raised by pro forma earnings (or “street” earnings) because investors may have trouble focusing their attention when they are relying on this information to make decisions about investing in French publicly traded securities.This article, based on 116 pro...