The US Macroeconomic News Announcements and the Within-Month Effects on the Bucharest Stock Exchange
Proceedings of the International Conference “Education and Creativity for a Knowledge Society”- 5th Edition, November 11-12, 2011, Bucharest, Romania
6 Pages Posted: 20 Feb 2012
Date Written: September 25, 2011
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.
Keywords: Within-month effects, Macroeconomic news announcements, Romanian capital market
JEL Classification: E20, G02, G10
Suggested Citation: Suggested Citation
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