{"id":"https://openalex.org/W8202562","doi":null,"title":"A Fresh Look at Seasonal Anomalies: An International Perspective","display_name":"A Fresh Look at Seasonal Anomalies: An International Perspective","publication_year":2011,"publication_date":"2011-01-01","ids":{"openalex":"https://openalex.org/W8202562","mag":"8202562"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:ijb:journl:v:10:y:2011:i:2:p:93-116","doi":null,"is_oa":false,"landing_page_url":"https://ijbe.fcu.edu.tw/assets/ijbe/past_issue/No.10-2/abstract/01.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5110759859","display_name":"Ali F. Darrat","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ali F. Darrat","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100365155","display_name":"Bin Li","orcid":"https://orcid.org/0000-0002-2230-5994","observed_orcids":["https://orcid.org/0000-0002-2230-5994"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Bin Li","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-2230-5994","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5083231373","display_name":"Benjam\u00edn Liu","orcid":"https://orcid.org/0000-0003-4735-8563","observed_orcids":["https://orcid.org/0000-0003-4735-8563"]},"institutions":[{"id":"https://openalex.org/I11701301","display_name":"Griffith University","ror":"https://ror.org/02sc3r913","country_code":"AU","type":"education","lineage":["https://openalex.org/I11701301"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Benjam\u00edn Liu","raw_affiliation_strings":["Griffith University"],"raw_orcid":"https://orcid.org/0000-0003-4735-8563","affiliations":[{"raw_affiliation_string":"Griffith University","institution_ids":["https://openalex.org/I11701301"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5066118982","display_name":"Jen\u2010Je Su","orcid":"https://orcid.org/0000-0002-8417-167X","observed_orcids":["https://orcid.org/0000-0002-8417-167X"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Jen\u2010Je Su","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":4.7425,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":{"value":0.94846632,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"10","issue":"2","first_page":"93","last_page":"116"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/seasonal-anomalies","display_name":"seasonal anomalies","score":0.8040000200271606},{"id":"https://openalex.org/keywords/january-effect","display_name":"January effect","score":0.7509999871253967},{"id":"https://openalex.org/keywords/monthly-seasonality","display_name":"monthly seasonality","score":0.8019999861717224},{"id":"https://openalex.org/keywords/international-stock-markets","display_name":"international stock markets","score":0.8519999980926514},{"id":"https://openalex.org/keywords/calendar-anomalies","display_name":"calendar anomalies","score":0.8069999814033508},{"id":"https://openalex.org/keywords/december-effect","display_name":"December effect","score":0.5860000252723694},{"id":"https://openalex.org/keywords/ipo-timing","display_name":"IPO timing","score":0.5019999742507935},{"id":"https://openalex.org/keywords/portfolio-management","display_name":"portfolio management","score":0.6069999933242798},{"id":"https://openalex.org/keywords/stock-market-anomalies","display_name":"stock market anomalies","score":0.3790000081062317}],"concepts":[{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.7029298543930054},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.617219090461731},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5446712970733643},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.5431418418884277},{"id":"https://openalex.org/C2994343996","wikidata":"https://www.wikidata.org/wiki/Q2746910","display_name":"International market","level":2,"score":0.5274902582168579},{"id":"https://openalex.org/C125403950","wikidata":"https://www.wikidata.org/wiki/Q2111082","display_name":"Seasonality","level":2,"score":0.49653035402297974},{"id":"https://openalex.org/C2119116","wikidata":"https://www.wikidata.org/wiki/Q7181","display_name":"Globalization","level":2,"score":0.4724954664707184},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.46309685707092285},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4620119631290436},{"id":"https://openalex.org/C56292299","wikidata":"https://www.wikidata.org/wiki/Q2916376","display_name":"January effect","level":4,"score":0.4319353997707367},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.4182223081588745},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3963291645050049},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.39544785022735596},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.33730417490005493},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.22124502062797546},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.20868921279907227},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.20180723071098328},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.0947304368019104},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0797758400440216},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:ijb:journl:v:10:y:2011:i:2:p:93-116","doi":null,"is_oa":false,"landing_page_url":"https://ijbe.fcu.edu.tw/assets/ijbe/past_issue/No.10-2/abstract/01.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"mag:8202562","doi":null,"is_oa":false,"landing_page_url":"https://www.ijbe.org/table%20of%20content/pdf/vol10-2/vol10-2-01.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S2764881094","display_name":"International journal of business and economics","issn_l":"1607-0704","issn":["1607-0704"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"International journal of business and economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":33,"referenced_works":["https://openalex.org/W1485812904","https://openalex.org/W1486185089","https://openalex.org/W1486873685","https://openalex.org/W1514711244","https://openalex.org/W1562072655","https://openalex.org/W1656008706","https://openalex.org/W1965256629","https://openalex.org/W1975392573","https://openalex.org/W1986962234","https://openalex.org/W1992844684","https://openalex.org/W2003125878","https://openalex.org/W2003330915","https://openalex.org/W2012987766","https://openalex.org/W2014005364","https://openalex.org/W2014656788","https://openalex.org/W2015417499","https://openalex.org/W2058409108","https://openalex.org/W2072561038","https://openalex.org/W2082276820","https://openalex.org/W2083015905","https://openalex.org/W2090637028","https://openalex.org/W2099837005","https://openalex.org/W2119087081","https://openalex.org/W2138535709","https://openalex.org/W2163294447","https://openalex.org/W2168122733","https://openalex.org/W2171191425","https://openalex.org/W2334781194","https://openalex.org/W2599126855","https://openalex.org/W2892011919","https://openalex.org/W3023906401","https://openalex.org/W3121338706","https://openalex.org/W3125649272"],"related_works":["https://openalex.org/W2972406748","https://openalex.org/W4399530460","https://openalex.org/W7110844332","https://openalex.org/W2074710349","https://openalex.org/W4385462458","https://openalex.org/W2060242526","https://openalex.org/W2184758343","https://openalex.org/W2003125878","https://openalex.org/W3110538009","https://openalex.org/W2204995332"],"abstract_inverted_index":{"Under":[0],"globalization":[1],"and":[2,17,25,67,114,126,141],"international":[3,59,81],"market":[4],"integration,":[5],"exploring":[6],"seasonality":[7,78],"in":[8,49,55,79,147],"global":[9,145],"equity":[10,82],"markets":[11,83,123,146],"is":[12,64],"imperative":[13],"for":[14,26,106,124,138],"portfolio":[15],"managers":[16],"individual":[18],"investors":[19],"to":[20,28,90],"timely":[21],"reconstruct":[22],"their":[23],"portfolios":[24],"firms":[27],"optimally":[29],"schedule":[30],"the":[31,42,45,50,56,62,85,118,132,148],"issue":[32],"of":[33,44,58,121,134],"either":[34],"new":[35],"shares":[36],"or":[37],"IPOs.":[38],"Prior":[39],"research":[40],"supports":[41],"presence":[43,133],"January":[46,88,102],"effect,":[47],"particularly":[48],"US":[51],"stock":[52,60],"market.":[53],"However,":[54],"context":[57],"markets,":[61],"evidence":[63],"less":[65],"compelling":[66],"often":[68],"contradictory.":[69],"This":[70],"paper":[71],"provides":[72],"a":[73,100],"fresh":[74],"look":[75],"at":[76],"monthly":[77],"34":[80],"over":[84],"period":[86],"from":[87],"1988":[89],"December":[91,125],"2010.":[92],"Unlike":[93],"prior":[94],"findings,":[95],"we":[96,110],"do":[97],"not":[98],"find":[99,111],"significant":[101,135],"effect":[103],"except":[104],"perhaps":[105],"3":[107],"markets.":[108],"Instead,":[109],"significantly":[112],"larger":[113],"positive":[115],"anomalies":[116,137],"across":[117,143],"vast":[119],"majority":[120],"these":[122],"April.":[127],"The":[128],"results":[129],"further":[130],"suggest":[131],"negative":[136],"June,":[139],"August,":[140],"September":[142],"most":[144],"sample.":[149]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-13T10:08:12.033832","created_date":"2016-06-24T00:00:00"}