Since the adhesion to European Union, the influence of the international financial markets on the Romanian capital market intensified. In this paper we investigate the impact of the shocks from New York Stock Exchange on the Bucharest Stock Exchange evolution. We found that a significant...

The adhesion to the European Union represented a turning point for the Romanian capital market. Before the adhesion Bucharest Stock Exchange experienced a relatively quiet period which lasted for many years. Instead, after Romania had became member of the European Union the capital market...

This paper explores reactions to the stock markets shocks during quiet and turbulent times. In our investigation we use daily values of 28 stock exchanges indexes: 14 from developed markets and 14 from emerging markets. We find the global crisis induced, for most of the indexes, significant...

Monthly seasonality in the stock prices returns is among the best known calendar anomalies that affect the capital markets. The knowledge about such calendar patterns could be exploited in building successful investment strategies. However, it was revealed that not all the calendar anomalies...

Studies on the financial markets proved that not all calendar anomalies are persistent in time. Some of them experienced various types of changes, including passing from the classical form to an extended one, with an enlarged specific time interval. This paper approaches the Holiday Effect...

This paper explores the impact of the large stock prices increases (positive shocks) and decreases (negative shocks) from the New York Stock Exchange on the returns and volatility of some European developed capital markets. We found that more than a half of shocks from these European stock...

In the last decades, the persistence over time of the January Effect was a controversial subject. Some studies concluded this calendar anomaly remained relatively unchanged since its discovery, while others found that it experienced a substantial decline or even disappeared. This paper explores...

This paper approaches the behavior of stock returns on US capital market during the first half of February. We use the closing values of four indexes from United States capital market for the period January 2011 - April 2023. We found, for all four indexes, abnormal high returns during the first...