Question: can i get a reference for this - Relation to Market Efficiency: This behavior is consistent with the semi-strong form of the Efficient Market Hypothesis,

can i get a reference for this - Relation to Market Efficiency: This behavior is consistent with the semi-strong form of the Efficient Market Hypothesis, which posits that stock prices quickly reflect all publicly available information, such as earnings releases. The initial volatility and subsequent stabilization suggest that the market efficiently processed the earnings information over time. By observing these trends, you can discuss how the market's reaction aligns with studies on market efficiency regarding quarterly earnings. The absence of abnormal returns calculation is noted, as the focus is on qualitative analysis of price and volume changes

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