Thursday, 19 Sep, 2019

011-28082485

011-47044510

+91-9899775880

Month of The Year Effect: An Analysis on CNX NIFTY and NYSE Composite Index

Journal of IMS Group

Volume 11 Issue 2

Published: 2014
Author(s) Name: Ruchi Gupta | Author(s) Affiliation: Faculty, Delhi Inst.of Advanced Studies, New Delhi, India
Locked Subscribed Available for All

Abstract

Conventionally, stock markets were considered extremely efficient in reflecting information about individual stocks and the market as a whole. The accepted view was that neither technical analysis nor fundamental analysis could enable an investor to achieve returns greater than those of the market portfolio as the stock prices reflected all new information without delay. The changing times have witnessed attenuation in the universality of the dominance of the efficient market hypothesis, with the rise in the belief that stock prices are at least partially predictable. Various market anomalies are in trend and discussion since the past few decades, proving the existence of these non-random patterns, viz. calendar effects or because of various company announcements. The current research attempts to examine the attacks on the efficient market hypothesis, i.e. anomalies, with special reference to month of the year effect anomaly, using ANOVA.

Keywords: Efficient Market Hypothesis, Stock Market, Anomalies

View PDF

Refund policy | Privacy policy | Copyright Information | Contact Us | Feedback © Publishingindia.com, All rights reserved