Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/162377
Title: DAY OF THE WEEK AND TURN OF THE YEAR EFFECTS ON STOCK RETURNS IN SINGAPORE
Authors: K. CHANDRA KUMAR
Issue Date: 1987
Citation: K. CHANDRA KUMAR (1987). DAY OF THE WEEK AND TURN OF THE YEAR EFFECTS ON STOCK RETURNS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: The random walk hypothesis, the 'weekend effect' and the 'turn of year effect' have been studied on the stock markets of major industrialized nations such as the United States, the United Kingdom and Canada. This paper extends such a study to the stock market in Singapore. Since the stock market is less developed than those in the industrialised countries, the findings could serve as indicators to the characteristics manifest in stock markets at this stage of development. It was found that the Stock Exchange exhibited inefficiency in the weak form. Monday and Tuesday returns were low, or negative, while Friday returns were high. Average returns in January were significantly higher than those for the rest of the year. It is hoped that the findings in this paper will be very helpful to investors and fund managers in timing their share transactions.
URI: https://scholarbank.nus.edu.sg/handle/10635/162377
Appears in Collections:Bachelor's Theses

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