The impact of Lunar New Year on the January anomaly in Taiwan's stock market

Chin-Chen Chien and Tsung-Cheng Chen

Applied Economics Letters, 2007, vol. 14, issue 14, 1075-1077

Abstract: This study empirically investigates the impact of Lunar New Year on the January anomaly in Taiwan's stock market. The Lunar New Year is the most significant festival for ethnic Chinese around the world, wherever they come from. It is a very jubilant occasion mainly because it is the time when people take a break from work to get together with family and friends. We hypothesize that the withdrawal of capital from the stock market to meet financial needs during this festival would compromise the anomaly when the Lunar New Year is in January. Empirical results support our hypothesis that the anomaly exists only when the Lunar New Year is in February.

Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.informaworld.com/openurl?genre=article& ... 40C6AD35DC6213A474B5 (text/html)
Access to full text is restricted to subscribers.

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:taf:apeclt:v:14:y:2007:i:14:p:1075-1077

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504850600706263

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().