Journal of Business and Management
Vol 5, No 1 (2016)

Independence Day Effect in the Stock Price of ASEAN State-Owned Enterprises

Setiawan, Marvella Justia (Unknown)
Murtaqi, Isrochmani (Unknown)

Article Info

Publish Date
04 May 2016

Abstract

Abstract. Holiday effect is an anomaly on stock returns related to public holidays. This findings oppose Efficient Market Hypothesis directly as it proves that abnormal return presence. Lakonishok and Schmidt (1998) defined public holiday as days when market is closed, such as Labor Day, President’s Day, Memorial Day, Independence Day, Thanksgiving, New Year, Good Friday, and Christmas. The study reported that 30% up to 50% more return can be gained in holiday season compared to non-holiday season. Keyword(s): Holiday Effect, Independence Day, ASEAN

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Journal Info
Journal of Business and Management
Website

Abbrev

jbm

Publisher

Institut Teknologi Bandung

Subject

Decision Sciences, Operations Research & Management

Description

Journal of Business and Management (JBM)is an online journal that is published three times a year. It publishes research papers that give rigorous theoretical and practical insight of business and managament. JBM aims to provide a forum for the dissemination of theory application and research in all ...