TY  - JOUR
T1  - Chinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation
JF  - Finance Research Letters
Y1  - 2018
A1  - Teng,Chia-Chen
A1  - Yang,Jimmy
KW  - Finance
AB  - This paper provides empirical evidence and a behavioral explanation for the Chinese Lunar New Year (CLNY) effect and investigates whether the holiday effect weakens after market deregulation. Using emotion proxies from literature, we find that positive emotion plays an important role in contributing to higher returns surrounding the CLNY. We also show that the CLNY effect weakens when foreign investors’ participation increases, suggesting that the market deregulation may have contributed to this diminishing calendar anomaly.
VL  - 27
UR  - https://www.sciencedirect.com/science/article/pii/S1544612317305640
U2  - a
U4  - 144773136384
ID  - 144773136384
ER  -