The January Effect: Theory and Evidence of an Equity Market Irregularity

KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email dspace@kzoo.edu to request access to this thesis.
dc.contributor.advisorHetzel, Donna
dc.contributor.authorIngham, David S.
dc.date.accessioned2012-04-19T18:13:45Z
dc.date.available2012-04-19T18:13:45Z
dc.date.issued1997
dc.descriptionv, 38 p.en_US
dc.description.abstractThe January Effect is the abnormal behavior of small firms to have greater returns in January than larger firms. In this paper the pros and cons of several theories are reviewed in attempts to locate the one with the most explanatory answer. After looking at theory, we move on to profitable opportunities that it presents and find that there are ways to take advantage of the January Effect with futures which yield some nice returns. However, we also note that in the last decade the January Effect has gravitated towards December, an important note for investors. Finally we return to the theory and attempt to prove the tax-loss selling hypothesis with an example using stock returns from the UK, and found no evidence of a January Effect overseas.en_US
dc.format.mimetypeapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10920/25737
dc.language.isoen_USen_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.relation.ispartofseriesSenior Individualized Projects. Economics and Business.;
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleThe January Effect: Theory and Evidence of an Equity Market Irregularityen_US
dc.typeThesisen_US
Files