Economics at your fingertips  

Turn-of-the-month and day-of-the-week patterns: two for the price of one? The Romanian situation

Elena Tilica ()

The Review of Finance and Banking, 2018, vol. 10, issue 1, 047-058

Abstract: Numerous studies investigated patters in daily stocks returns, considering many possible manifestations, like the day-of-the-week (DOW) and turn-of-the-month (TOM)effects. This study analyses the possibility that they represent the same effect, but have been described as different patterns due to the methodologies employed. The results show that both effects are present on the Romanian market. However, a profitable DOW effect is linked to the existence of the TOM effect, while the TOM effect seems to be able to also create positive returns in an individual manner. Thus, investors should base their strategies mainly on the TOM effect.

Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) Full text (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:

Access Statistics for this article

The Review of Finance and Banking is currently edited by Victor Dragota; Bogdan Negrea

More articles in The Review of Finance and Banking from Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante Strada Mihai Eminescu nr.13-15, sector 1, Bucuresti, Romania. Contact information at EDIRC.
Bibliographic data for series maintained by Tatu Lucian ().

Page updated 2022-05-18
Handle: RePEc:rfb:journl:v:10:y:2018:i:1:p:047-058