Munich Personal RePEc Archive

The US macroeconomic news announcements and the within-month effects on the Bucharest Stock Exchange

Dumitriu, Ramona and Stefanescu, Razvan and Nistor, Costel (2011): The US macroeconomic news announcements and the within-month effects on the Bucharest Stock Exchange. Published in: Proceedings of the International Conference „EDUCATION AND CREATIVITY FOR A KNOWLEDGE SOCIETY”- 5 edition November 2011, Bucharest No. Economic Sciences (5. November 2011): pp. 178-183.

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Abstract

Within-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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