A Study of Recruitment & Selection of Employees in Public Sector Enterprises of India

Dr. S. Poornima () and V. Chitra ()
Additional contact information
Dr. S. Poornima: Associate Professor, P.S.G.R.Krishnammal College for Women, Coimbatore
V. Chitra: Assistant Professor, Karpagam Institute of Technology, Coimbatore

Journal of Commerce and Trade, 2014, vol. 9, issue 1, 46-52

Abstract: This study investigates whether Friday effect exist in NSE NIFTY. The weekend Effect or Day of the Week Effect has been a hot research topic among academicians for decades. The most popular Anomaly is the Friday Effect, meaning that the Friday’s Average Return is significantly higher than the Other Days’ Average Returns. The presence of Friday Effect defeats the basic premises of the Efficient Market Hypothesis. Besides, it has greater implications on the design of investment strategy in the long run. The outcome of the study initiate that there was Highest Mean Return recorded in Friday and the Lowest Mean Returns were recorded in Monday for the sample indices. The analysis of seasonality results point out there is no significant Friday Effect exists in NSE NIFTY during the study period.

Keywords: Day of the Week Effect; Friday Effect; Efficient Market Hypothesis; Seasonality; Dummy Variable Regression Model. (search for similar items in EconPapers)
JEL-codes: M51 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.jctindia.org/index.php/jct/article/view/a14-spvc (application/pdf)

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:jct:journl:v:9:y:2014:i:1:p:46-52

Access Statistics for this article

Journal of Commerce and Trade is currently edited by Dr. Himanshu Agarwal

More articles in Journal of Commerce and Trade from Society for Advanced Management Studies
Bibliographic data for series maintained by Dr. Himanshu Agarwal ().