EN
Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse
Abstract
In financial literature we find numerous studies examining the presence of diverse types of calendar anomalies in different stock exchanges of the world. The current paper aims to investigate the month of the year effect in randomly selected ten companies from banking sector and service sector traded on the Bahrain Bourse for a period of five years commencing from 1st January 2010 to 31st December 2014. The empirical research was conducted using descriptive statistics and Kruskal-Wallis H Test. The findings of the study revealed that none of the companies selected for the study exhibited significant monthly returns for the study period except Bahrain Maritime & Mercantile International (BMMI). The paper suggests that the absence of said calendar anomaly may be due to thin trading practiced in the Bahrain Stock Exchange.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
June 1, 2017
Submission Date
June 1, 2017
Acceptance Date
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Published in Issue
Year 2017 Volume: 7 Number: 2
APA
Hawaldar, I. T., B., S., & Pinto, P. (2017). Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse. International Journal of Economics and Financial Issues, 7(2), 426-436. https://izlik.org/JA58CS24FM
AMA
1.Hawaldar IT, B. S, Pinto P. Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse. IJEFI. 2017;7(2):426-436. https://izlik.org/JA58CS24FM
Chicago
Hawaldar, Iqbal Thonse, Shakila B., and Prakash Pinto. 2017. “Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse”. International Journal of Economics and Financial Issues 7 (2): 426-36. https://izlik.org/JA58CS24FM.
EndNote
Hawaldar IT, B. S, Pinto P (June 1, 2017) Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse. International Journal of Economics and Financial Issues 7 2 426–436.
IEEE
[1]I. T. Hawaldar, S. B., and P. Pinto, “Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse”, IJEFI, vol. 7, no. 2, pp. 426–436, June 2017, [Online]. Available: https://izlik.org/JA58CS24FM
ISNAD
Hawaldar, Iqbal Thonse - B., Shakila - Pinto, Prakash. “Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse”. International Journal of Economics and Financial Issues 7/2 (June 1, 2017): 426-436. https://izlik.org/JA58CS24FM.
JAMA
1.Hawaldar IT, B. S, Pinto P. Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse. IJEFI. 2017;7:426–436.
MLA
Hawaldar, Iqbal Thonse, et al. “Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse”. International Journal of Economics and Financial Issues, vol. 7, no. 2, June 2017, pp. 426-3, https://izlik.org/JA58CS24FM.
Vancouver
1.Iqbal Thonse Hawaldar, Shakila B., Prakash Pinto. Empirical Testing of Month of the Year Effect on Selected Commercial Banks and Services Sector Companies Listed on Bahrain Bourse. IJEFI [Internet]. 2017 Jun. 1;7(2):426-3. Available from: https://izlik.org/JA58CS24FM