I am starting a study about ERC behavior in the long run. Can anyone recommend previous literature, research methodology, analysis tools, etc. are highly appreciated.
The article by Kip does a fairly good review on the literature. The article may be a good foundation material. The second article is a more advanced form; it provides some experimental designs and empirical studies.
The third article by Schroeder is interesting in that it talks about "negative" earnings response from empirical perspective. The article is dated and the scanning quality is a bit turbid, but the article's content is quite interesting.