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首页> 外文期刊>International Journal of Business and Management >Effects of Holidays on the Malaysian Stock Exchange
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Effects of Holidays on the Malaysian Stock Exchange

机译：假期对马来西亚证券交易所的影响

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摘要

This research seeks to investigate whether holidays affect the stock exchange of the multi-cultural country of Malaysia. By performing ordinary least squares analysis on data from the Bursa Malaysia main index from year 2001 to year 2010, it was found that returns during Christmas and Chinese New Year period were significantly higher. More specifically, there was a two-month market rally prior to the Chinese New Year. In addition, the excess return from the first trading day after Christmas to two trading days before New Year’s Day are positively significant. The effects of other holidays were not significant. Possible reasons of a lack of significant effects during important Islamic holidays such as Aidilfitri could be due to the Muslim’s lower participation in the stock market.
机译：这项研究旨在调查假期是否影响马来西亚多元文化国家的股票交易所。通过对大马交易所主要指数2001年至2010年的数据进行普通最小二乘分析，发现圣诞节和农历新年期间的收益显着更高。更具体地说，春节前有两个月的市场反弹。此外，从圣诞节后的第一个交易日到元旦之前的两个交易日的超额收益也非常可观。其他假期的影响不明显。在重要的伊斯兰假期（如艾迪菲特里节）期间缺乏重大影响的可能原因可能是穆斯林对股票市场的参与度较低。

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