{"title":"尼泊尔股市的月度效应","authors":"Shanta Maharjan","doi":"10.3126/pycnjm.v11i1.35919","DOIUrl":null,"url":null,"abstract":"The study investigates the month-of-the-year effects in Nepalese stock market employing composite index along with other nine sub-indices between mid-July 17, 2007 and mid-July 15, 2017. The study finds statistically significant highest average monthly returns in the month of Ashad (mid-June - mid-July) among other eleven months. On contrary, the significantly negative return is found in the month of Bhadra (mid-August - mid-September). It indicates that the Nepalese stock market has specific returns patterns showing inefficient in weak-form of market efficiency.","PeriodicalId":331142,"journal":{"name":"PYC Nepal Journal of Management","volume":"15 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Month-of-the-year Effects in Nepalese Stock Market\",\"authors\":\"Shanta Maharjan\",\"doi\":\"10.3126/pycnjm.v11i1.35919\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The study investigates the month-of-the-year effects in Nepalese stock market employing composite index along with other nine sub-indices between mid-July 17, 2007 and mid-July 15, 2017. The study finds statistically significant highest average monthly returns in the month of Ashad (mid-June - mid-July) among other eleven months. On contrary, the significantly negative return is found in the month of Bhadra (mid-August - mid-September). It indicates that the Nepalese stock market has specific returns patterns showing inefficient in weak-form of market efficiency.\",\"PeriodicalId\":331142,\"journal\":{\"name\":\"PYC Nepal Journal of Management\",\"volume\":\"15 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2018-08-31\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"PYC Nepal Journal of Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.3126/pycnjm.v11i1.35919\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"PYC Nepal Journal of Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3126/pycnjm.v11i1.35919","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Month-of-the-year Effects in Nepalese Stock Market
The study investigates the month-of-the-year effects in Nepalese stock market employing composite index along with other nine sub-indices between mid-July 17, 2007 and mid-July 15, 2017. The study finds statistically significant highest average monthly returns in the month of Ashad (mid-June - mid-July) among other eleven months. On contrary, the significantly negative return is found in the month of Bhadra (mid-August - mid-September). It indicates that the Nepalese stock market has specific returns patterns showing inefficient in weak-form of market efficiency.
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