EN
An Examination of the Month-of-the-year Effect at Damascus Securities Exchange
Abstract
This paper explores the existence of the month-of-the-year effect in a newly established exchange of Damascus Securities Exchange (DSE). It employs Ordinary Least Squares Estimates (OLS) and dummy variables for the whole working period of the exchange from 2010 to 2015. This paper confirms the existence of positive and significant returns during May compared to remaining months. Average returns in May are six percent higher than average returns during the rest of the year. A possible explanation for May effect is dividend month premium suggested by Hartzmark & Solomon (2013).
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
April 1, 2016
Submission Date
April 1, 2016
Acceptance Date
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Published in Issue
Year 2016 Volume: 6 Number: 2
APA
Mouselli, S., & Samman, H. A. (2016). An Examination of the Month-of-the-year Effect at Damascus Securities Exchange. International Journal of Economics and Financial Issues, 6(2), 573-577. https://izlik.org/JA93BE92MW
AMA
1.Mouselli S, Samman HA. An Examination of the Month-of-the-year Effect at Damascus Securities Exchange. IJEFI. 2016;6(2):573-577. https://izlik.org/JA93BE92MW
Chicago
Mouselli, Sulaiman, and Hazem Al Samman. 2016. “An Examination of the Month-of-the-Year Effect at Damascus Securities Exchange”. International Journal of Economics and Financial Issues 6 (2): 573-77. https://izlik.org/JA93BE92MW.
EndNote
Mouselli S, Samman HA (April 1, 2016) An Examination of the Month-of-the-year Effect at Damascus Securities Exchange. International Journal of Economics and Financial Issues 6 2 573–577.
IEEE
[1]S. Mouselli and H. A. Samman, “An Examination of the Month-of-the-year Effect at Damascus Securities Exchange”, IJEFI, vol. 6, no. 2, pp. 573–577, Apr. 2016, [Online]. Available: https://izlik.org/JA93BE92MW
ISNAD
Mouselli, Sulaiman - Samman, Hazem Al. “An Examination of the Month-of-the-Year Effect at Damascus Securities Exchange”. International Journal of Economics and Financial Issues 6/2 (April 1, 2016): 573-577. https://izlik.org/JA93BE92MW.
JAMA
1.Mouselli S, Samman HA. An Examination of the Month-of-the-year Effect at Damascus Securities Exchange. IJEFI. 2016;6:573–577.
MLA
Mouselli, Sulaiman, and Hazem Al Samman. “An Examination of the Month-of-the-Year Effect at Damascus Securities Exchange”. International Journal of Economics and Financial Issues, vol. 6, no. 2, Apr. 2016, pp. 573-7, https://izlik.org/JA93BE92MW.
Vancouver
1.Sulaiman Mouselli, Hazem Al Samman. An Examination of the Month-of-the-year Effect at Damascus Securities Exchange. IJEFI [Internet]. 2016 Apr. 1;6(2):573-7. Available from: https://izlik.org/JA93BE92MW