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.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Within-month effects, Macroeconomic news announcements, Romanian capital market
• Subjects: G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency ; Event Studies ; Insider Trading; E - Macroeconomics and Monetary Economics > E0 - General > E00 - General

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