Patell and Woflson (1984) report that most of the stock-price response to corporate dividend or earnings announcements occurs within ____________ of the announcement.
A) 10 minutes
B) 45 minutes
C) 2 hours
D) 4 hours
E) 2 trading days

Question

Quizplus · Accepted Answer

Patell and Wolfson (1984) found that most of the stock-price response to corporate dividend or earnings announcements occurs within 10 minutes of the announcement, indicating the market's efficiency in processing new information.

Patell and Woflson (1984) Report That Most of the Stock-Price