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Vesela Jitka
Does the January Effect and "The Day of the Week Effect" Influence the Prague Stock Exchange?
Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia, 2008, nr 13, s. 427-436, tab., rys., bibliogr. 18 poz.
Giełda papierów wartościowych
Stock market
, summ.
Conducted calculations proved some JanuEiry Effect signs on PSE. If it is possible to observe these signs repeatedly, we can consider altemative that will use the January Effect for constructing such inyestments strategy, that will, on certain conditions, bring the investor abnormal return. Con¬ducted calculations related to the impact of the Day of the week Effect on PSE imply that on the Czech market there is no stable stock price yolatility pattem that could be used for construct successfuUy investment strategies. While interpreting the above-mentioned calculations and studies' results it is necessary to con¬sider that we did not use identical time series and moreover, we did not take into account transactional costs. (original abstract)
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