Šagovac, Mislav - In: Croatian review of economic, business and social … 11 (2025) 1, pp. 81-98
The paper investigates the calendar rebalancing effects on Zagreb Stock Exchange (ZSE) by analyzing daily returns of the CROBEX and the CROBIS indices from September 2003 to March 2025. A regression analysis and a simulated investment strategy are used to examine whether systematic differences...