The study looked at how stock prices in Mexico react to earnings announcements from 2001 to 2014. They found that when earnings go up, stock prices tend to rise, and when earnings go down, stock prices tend to fall. By analyzing individual events and grouping them into portfolios based on earnings size, they discovered that the impact of earnings on stock prices is even stronger than previously thought. This suggests that accounting information, like earnings announcements, plays a significant role in determining stock price changes in emerging economies like Mexico.