The solar and lunar divide and the impact on Taiwan's stock returns

Under the influence of the western world, the solar New Year celebration seems to have fascinated everyone in Taiwan with the lunar New Year festivity showing much less vigor. This paper examines the impact of the solar and lunar New Years on the stock market of Taiwan, showing that the lunar effect outshines the solar one, but the magnitude is decreasing for both as the years go by. In addition, this effect is more significant in the year of horse.

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Year of publication:	2016
Authors:	Yang, Der-Yuan ; Lee, Chen Hsun
Published in:	Cogent Economics & Finance. - Abingdon : Taylor & Francis, ISSN 2332-2039. - Vol. 4.2016, 1, p. 1-8
Publisher:	Abingdon : Taylor & Francis
Subject:	event study \| lunar/solar New Year \| stock market \| traditions

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1080/23322039.2016.1177153 [DOI] 861648633 [GVK] hdl:10419/147812 [Handle]
Classification:	G10 - General Financial Markets. General ; G14 - Information and Market Efficiency; Event Studies
Source:	EconStor

Persistent link: https://www.econbiz.de/10011559217