基于季报数据的盈余公告后漂移现象研究的中期报告摘要：本研究旨在探讨基于季报数据的盈余公告后漂移现象。通过对科技股和非科技股公司的季报数据进行收集和分析，在盈余公告后的30天内，我们发现科技股公司的股价具有明显的漂移现象，而非科技股公司则没有。在考虑控制了风险因素和流动性因素之后，这种现象依然存在，表明基于季报数据的盈余公告后漂移现象不是由于市场风险和流动性因素造成的。进一步的研究发现，这种漂移现象可能是由于市场过度反应盈余预期造成的。本研究对投资者和研究人员提出了相应的建议，帮助他们更好地应对和利用基于季报数据的盈余公告后漂移现象。关键词：季报数据，盈余公告，漂移现象，风险因素，流动性因素，市场过度反应Abstract：Thisstudyaimstoinvestigatethepost-earningsannouncementdriftphenomenonbasedonquarterlydata.Bycollectingandanalyzingquarterlydataoftechnologyandnon-technologycompanies,wefoundthatthestockpricesoftechnologycompanieshaveasignificantdriftphenomenonwithin30daysafterearningsannouncements,whilenon-technologycompaniesdonot.Aftercontrollingforriskandliquidityfactors,thisphenomenonstillexists,indicatingthatthepost-earningsannouncementdriftbasedonquarterlydataisnotcausedbymarketriskandliquidityfactors.Furtherresearchsuggeststhatthisdriftphenomenonmaybeduetomarketoverreactiontoearningsexpectations.Thisstudyprovidescorrespondingrecommendationsforinvestorsandresearcherstobetterdealwithandutilizethepost-earningsannouncementdriftbasedonquarterlydata.Keywords:Quarterlydata,earningsannouncement,driftphenomenon,riskfactor,liquidityfactor,marketoverreaction