Purpose The purpose if this paper is to examine the turn-of-the-month effect in the equity
market of three major emerging countries–Brazil, India and China–from January 2000 to …

We examine the turn-of-the-month (TOM) effect in the Korean stock market, a representative
emerging market in Asia. The returns show that the TOM effect is statistically significant and …

A predictable pattern in equity returns based on the calendar time is dubbed as calendar
anomaly. The prevalence of calendar anomalies is considered evidence against the efficient …

This study investigates the effect of CEOs' cultural-specific superstitious beliefs on corporate
investment efficiency in China. Using data collected from Chinese listed firms from 2008 …

We examine (via parametric and non-parametric tests) the turn of the month effect in the
returns of various, size-conditioned Indian stock indices, across time, in up and down …

This paper investigated the existence of pre-Chinese New Year (CNY) and post-CNY
holiday effect in the Hong Kong stock market for the period covering January 1988 to July …

The Chinese stock market is an emerging market that has gained much importance over the
past few decades. Because of this, it also serves as a great subject for studying market …

This analysis investigates the influence of the timing of the Lunar New Year on the January
effect for the Vietnam stock market. The data selected for this study is a weekly series of the …

The finance literature documents substantial evidence of pre-holiday positive returns of
public holidays in both developed and emerging stock markets, perhaps due to the positive …

The Efficient Market Hypothesis (EMH) has been widely studied in the literature, however
there remains no consensus among academics whether markets are efficient or not …