January Seasonality in Preferred Stocks

Carl R Chen

The Financial Review, 1996, vol. 31, issue 1, 197-207

Abstract: This study documents the existence of January seasonality in preferred stocks. January seasonality is found in all grades of preferred stock while stronger summer returns are also observed in low-grade preferred, which resembles findings reported in common equity. Although January seasonality is also found in high-grade preferred stocks, a size effect--which is used to explain the January seasonality in low-grade bonds--may not be able to account for the same seasonality observed in high-grade preferred. Copyright 1996 by MIT Press.

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:bla:finrev:v:31:y:1996:i:1:p:197-207

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