Calendar trading of Taiwan stock market: A study of holidays on trading detachment and interruptions

Ann Shawing Yang

Emerging Markets Review, 2016, vol. 28, issue C, 140-154

Abstract: We analyze the influence of the Chinese lunar calendar and superstitions on holiday preferences using theories on time and mood to identify investor sentiment. Trading interruptions caused by Thursday holidays negative significantly influence investor sentiment for trust companies and individual investors. Trading detachment derived from cultural holidays in June positive significantly influences investor sentiment for dealers and individual investors. Trust companies and the market exhibit significantly positive sentiments toward winter holidays. The stock exchange indicates negative and positive sentiments toward winter holidays and holidays in January. Cultural holidays and superstition in Taiwan indicate strong support for holiday preferences in Asia.

Keywords: Individual and institutional investors; Holiday preferences; Theories on time and mood; Quantile regression (search for similar items in EconPapers)
JEL-codes: G1 G2 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1566014116300437
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:28:y:2016:i:c:p:140-154

DOI: 10.1016/j.ememar.2016.08.004

Access Statistics for this article

Emerging Markets Review is currently edited by Jonathan A. Batten

More articles in Emerging Markets Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().