Research Article
Keeping It Simple: How Post-earnings Return Drift Can Exist and Not Exist Simultaneously
Avanidhar Subrahmanyam*
Issue:
Volume 15, Issue 1, March 2026
Pages:
1-4
Received:
19 February 2026
Accepted:
28 February 2026
Published:
14 March 2026
Abstract: Some authors use 18 quadrillion regressions to conclude that post-earnings announcement drift (PEAD) is a major factor in the stock market. Some other authors find strong evidence of PEAD with t-statistics exceeding 14. However, at least one author argues that earnings drift does not exist in equities. This paper tries to resolve this conflict by replicating the procedure to generate the earnings drift factor, and indeed finds that earnings drift does not exist in all but microcaps. It stands to reason that for the bulk of market capitalization, there is no earnings drift. It is also shown that some conclusions relating to the significance of PEAD arise from using non-standard methods and interpretations.
Abstract: Some authors use 18 quadrillion regressions to conclude that post-earnings announcement drift (PEAD) is a major factor in the stock market. Some other authors find strong evidence of PEAD with t-statistics exceeding 14. However, at least one author argues that earnings drift does not exist in equities. This paper tries to resolve this conflict by r...
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Research Article
Factors Affecting Provision of Water in Case of Woliso Town, Oromia, Ethiopia
Derara Daba Afeta*
Issue:
Volume 15, Issue 1, March 2026
Pages:
5-15
Received:
31 August 2025
Accepted:
6 January 2026
Published:
4 June 2026
DOI:
10.11648/j.jim.20261501.12
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Abstract: This study examined factors affecting the water provision in Woliso town. It is obvious that water is critical for human life, but due to different factors, the demand for water and supply are unbalanced. The primary objective of the study was to analyze the factors affecting water provision in Woliso town, located in Southwest Shewa, Oromia, Ethiopia, and specifically to identify the current status of water supply and explore alternatives for improving water service in the town. For this study, primary data and secondary data were used as well, and a qualitative and quantitative approach was employed. Using simple random selection, the researcher chose two kebeles from Woliso Town, with a sample size of 156 drawn from the entire population. The data was processed and analyzed in descriptive form, organized in tables and graphs, and accompanied by relevant interpretations. According to major findings, currently, the distribution of the water supply in the town reached 59%, which indicates an imbalance in the demand of the community. The administrative problems, lack of active participation among responsible bodies, unbalanced demand and supply, lack of proper utilization of water resources and skilled manpower, lack of communication and conflict of interest among the enterprises, rapid population growth, limited budget, and lack of independent channels for basic uses and enterprises are identified as major factors affecting the provision of water supply in the town. Therefore, the government and the community should actively work to provide water to residents, and the government should take measures to hire appropriately for the field and create continuous training and communication with the community to improve water resource conservation and utilization.
Abstract: This study examined factors affecting the water provision in Woliso town. It is obvious that water is critical for human life, but due to different factors, the demand for water and supply are unbalanced. The primary objective of the study was to analyze the factors affecting water provision in Woliso town, located in Southwest Shewa, Oromia, Ethio...
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