FOR SLIDE 7 i HAVE TO PLOT A GRAPH TO SHOW THE BEFORE, ON AND AFTER RELEASE. SLIDE 6 IS WHERE I HAVE THE 3 EXAMPLES - Empirical Evidence from Extensive Sample Studies: Mention: Extensive sample studies typically analyze large datasets to observe patterns in stock price movements following earnings announcements. These studies often reveal phenomena like the post-earnings announcement drift, where stock prices continue to move in the direction of an earnings surprise for some time after the announcement. This drift suggests that the market may not fully incorporate the information immediately, indicating a level of inefficiency. Empirical Evidence from Extensive Sample Studies: Mention: Extensive sample studies typically analyze large datasets to observe patterns in stock price movements following earnings announcements. These studies often reveal phenomena like the post-earnings announcement drift, where stock prices continue to move in the direction of an earnings surprise for some time after the announcement. This drift suggests that the market may not fully incorporate the information immediately, indicating a level of inefficiency. Examples: o Fama's Research: Eugene Fama's work on the Efficient Market Hypothesis (EMH) is foundational. His studies often used extensive datasets to show how quickly markets incorporate information (Fama, 1970). o Post-Earnings Announcement Drift (PEAD): This phenomenon has been documented in numerous studies, where researchers fou o