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

See all articles by Ramona Dumitriu

Ramona Dumitriu

Independent

Razvan Stefanescu

affiliation not provided to SSRN

Costel Nistor

University Dunarea De Jos Galati

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

Dumitriu, Ramona and Stefanescu, Razvan and Nistor, Costel, The US Macroeconomic News Announcements and the Within-Month Effects on the Bucharest Stock Exchange (September 25, 2011). Proceedings of the International Conference “Education and Creativity for a Knowledge Society”- 5th Edition, November 11-12, 2011, Bucharest, Romania, Available at SSRN: https://ssrn.com/abstract=2006685 or http://dx.doi.org/10.2139/ssrn.2006685

Razvan Stefanescu

affiliation not provided to SSRN

Costel Nistor

University Dunarea De Jos Galati ( email )

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