학술논문
SEASONALITY IN STOCK RETURNS: AN EMPIRICAL STUDY OF THAILAND
이용수 5
- 영문명
- 발행기관
- People & Global Business Association
- 저자명
- Anisul M Islam Orapin Duangploy Saowanee Sitchawat
- 간행물 정보
- 『Global Business and Finance Review』Vol.6 No.2, 65~75쪽, 전체 10쪽
- 주제분류
- 경제경영 > 경영학
- 파일형태
- 발행일자
- 2001.12.31
4,000원
구매일시로부터 72시간 이내에 다운로드 가능합니다.
이 학술논문 정보는 (주)교보문고와 각 발행기관 사이에 저작물 이용 계약이 체결된 것으로, 교보문고를 통해 제공되고 있습니다.
국문 초록
영문 초록
This study empirically examined various statistical characteristics of the equity market in Thailand with special emphasis on examining seasonality in stock returns. It utilizes monthly time series data on the SET stock price index from 1975 to 1998. The result indicate that stock returns were higher, on average, in January compared to other months of the year, and that the returns were found to deviate from the normal distribution. The regression results and the Chow test support the hypotheses of (1) seasonality in stock returns, especially since the post-1984 period when the Thai equity market was opened up for foreign investment, and (2) the 'tax-loss selling'. The market appears to be not random, and given the presence of seasonality, the investors may improve their returns by "timing" the market.
목차
Abstract
INTRODUCTION
GROWTH AND TREND IN THE THAI EQUITY MARKET
A BRIEF REVIEW OF LITERATURE
THE METHODOLOGY
EMPIRICAL RESULTS
CONCLUSION
REFERENCES
키워드
해당간행물 수록 논문
- INTERNATIONAL BANKS' PERFORMANCE: A FIVE-COUNTRY COMPARISON
- DYNAMIC RELATIONSHIP BETWEEN EQUITY PRICES AND MACROECONOMIC CONDITIONS: EVIDENCE FROM EMERGING MARKETS
- PRICE-EARNING (P/E) RATIOS OF BROAD CATEGORIES OF U.S. STOCKS AND 3-MONTH T-BILL RATE: EVIDENCE FROM COINTEGRATION ANALYSES
- THE IMPACT OF TOP MANAGEMENT TEAM CHARACTERISTICS ON CORPORATE REFOCUSING IN U.S. FIRMS
- THE EFFECT OF AUDITOR CHOICE ON THE EARNINGS-TO-RETURNS RELATIONSHIP: THE CASE OF MALAYSIA
- SEASONALITY IN STOCK RETURNS: AN EMPIRICAL STUDY OF THAILAND
- IMPACT OF THE EURO ON EUROPEAN PORTFOLIO DIVERSIFICATION
참고문헌
교보eBook 첫 방문을 환영 합니다!
신규가입 혜택 지급이 완료 되었습니다.
바로 사용 가능한 교보e캐시 1,000원 (유효기간 7일)
지금 바로 교보eBook의 다양한 콘텐츠를 이용해 보세요!