Does the sales seasonality anomaly exist in China?

Jiexiang Huang, Yongxian Tan and Hailong Zhao

Pacific-Basin Finance Journal, 2020, vol. 63, issue C

Abstract: In this paper, we examine the relationship between sales seasonality and future stock return in the US and Chinese markets. Consistent with Grullon et al. (2020), we find low-sales-season firms tend to significantly outperform high-sales-season firms in the US market. Our empirical results suggest that the sales seasonality anomaly does not exist in the Chinese market.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:63:y:2020:i:c:s0927538x20302596

DOI: 10.1016/j.pacfin.2020.101425

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