与公司有关的盈利公告长期以来一直是研究人员讨论的课题。这是投资者对市场形势的反应。 Ball和Brown（1968年）关于收入公告的初步调查结果是下降的。他们对与收益公告相关的收益进行了实证调查，作为与该账户有关的信息的核心信息的一部分。他们是第一个研究收入公告的人，并调查了与盈利公告有关的现象。此后，一些投资者通过使用不同种类的技术，数据和信息（例如，Foster等人，1984; Bernard和Thomas，1998,1990; Ball）对与收入公告有关的研究做出了显着贡献和Bartov，1996年; Chordia和Shivakumar，2005年）。与资本市场有关的信息表明，收益公告包括相关信息，改变投资者对股票价值的意见。
The earnings announcements which are related to the company has been a subject of discussion among the researchers for a long time. It is the way in which investors responds to the market situation. The very initial investigation related to the earning announcements was down by Ball and Brown (1968). They did the empirical investigation of the earnings which were associated with the earning announcements as a part of the core information with respect to the information related to the account. They were the very first people who research in the earning announcements and investigated the phenomenon related to the earnings announcement. After this a number of investors have given a notable contribution in the research which is related to the earning announcements by using different kinds of techniques, data and information (e.g., Foster et al., 1984; Bernard and Thomas, 1998, 1990; Ball and Bartov, 1996; and Chordia and Shivakumar, 2005). The information which is related to the capital market suggests that the earning announcements consist of the information which is believed to alter the investors’ opinion about the value which is related to the stocks.
Earning announcements therefore is a continuous process which helps to understand the efficient market hypothesis. It is considered to be one of the most robust anomalies which are required to be considered during the financial literature. According to the definitions related to the Efficient Market Hypotheisis (EMH), the earning announcements should clearly reflect the price related information which are available in the public. Thus, earning announcements reflects one of the most important entities of the information which is available publically. Earning announcements generally leads to the price drift. A price drift is something which indicates that how the markets do fails to translate the information which are available with respect to the price of an entity. The price drift is something which forms to be an important entity of the earning