The US macroeconomic news announcements and the within-month effects on the Bucharest Stock Exchange
AbstractWithin-month anomalies and influence of macroeconomic news announcements are important characteristics of a stock market. In this paper we investigate their presence on Bucharest Stock Exchange. We find significant within-month effects and a considerable impact of some US macroeconomic news announcements. It results also that within-month effects are in fact caused by macroeconomic news announcements.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41626.
Date of creation: 11 Oct 2011
Date of revision: 11 Oct 2011
Within-month effects; Macroeconomic news announcements; Romanian capital market;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
- E00 - Macroeconomics and Monetary Economics - - General - - - General
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