On the Rationality of Investors – Lunar Phases and Equity Returns in Poland
نویسندگان
چکیده
منابع مشابه
Are investors moonstruck? Lunar phases and stock returns
This paper investigates the relation between lunar phases and stock market returns of 48 countries. The findings indicate that stock returns are lower on the days around a full moon than on the days around a new moon. The magnitude of the return difference is 3% to 5% per annum based on analyses of two global portfolios: one equal-weighted and the other value-weighted. The return difference is ...
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ژورنال
عنوان ژورنال: Zeszyty Naukowe Uniwersytetu Szczecińskiego Finanse Rynki Finansowe Ubezpieczenia
سال: 2017
ISSN: 2450-7741,2300-4460
DOI: 10.18276/frfu.2017.89/2-10