Because post-earnings-announcement drift shows that there is at least some amount of efficiency in the market, it is even more important to attempt to improve the quality of accounting standards.

Question

Quizplus · Accepted Answer

If there is evidence of some efficiency in the market, it suggests that the market is not completely inefficient and there are ways to improve the quality of accounting standards to further increase efficiency.

Because Post-Earnings-Announcement Drift Shows That There Is at Least Some