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Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 9 [Issue:] 1 [Article No.:] 1978639 [Year:] 2021 [Pages:] 1-17
Verlag: 
Taylor & Francis, Abingdon
Zusammenfassung: 
In this paper, we investigate the day of the week and the month of the year effects in African stock markets, both in the Gregorian and the Hijri calendars. Specifically, we investigate Monday effect, Friday effect, January effect and Ramadan effect, from January 2009 to December 2019, using OLS regression with robust standard errors. January is the first month of the Gregorian calendar, while Ramadan is the 9th and the most sacred month of the lunar calendar, used in Muslim countries. The results obtained show the existence of Monday effect in BRVM and Namibia, Friday effect in Kenya and Namibia, January effect in Botswana and Zambia, December effect in Botswana, BRVM and Egypt and Ramadan effect in Tunisia.
Schlagwörter: 
African stock markets
Day of the Week effect
DOW
Friday effect
January effect
Monday effect
Month of the Year effect
MOY
Ramadan effect
JEL: 
C22
G10
G11
G15
G17
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