Valentine's Day and Abnormal Returns in Southeast Asia
Journal Title: International Journal of Social Science And Human Research - Year 2024, Vol 7, Issue 11
Abstract
The market becomes inefficient as a result of market anomalies such as Valentine's Day, which creates positive emotions and leads investors to act irrationally when making decisions. These irrational actions result in fluctuations in stock prices, which offer investors opportunities for returns. This study aims to investigate the impact of Valentine's Day on market index returns in Southeast Asia from 2014 to 2024. The ARCH-GARCH (1,1) model was used in this study and the results indicate that Valentine's Day has an impact on market index returns in Southeast Asia (specifically Malaysia, Thailand, and Singapore), but not in Indonesia, the Philippines, or Vietnam. These results suggest that investors who are influenced by positive emotions are more likely to feel optimistic when making risky decisions. Therefore, market anomalies like Valentine's Day can be used as a consideration for investors seeking abnormal stock returns.
Authors and Affiliations
Ani Wilujeng Suryani, Dinda Oktavia Rieuwpassa, Ika Putri Larasati
Keywords
Related Articles
- EP ID EP751089
- DOI 10.47191/ijsshr/v7-i11-16
- Views 8
- Downloads 0
Blasphemous Speech against the Holy Books of Three Religions in Indonesia Spread on Youtube Media: Forensic Linguistic Study
This study aims to describe the form of blasphemy speech against the Holy Book on Youtube Media. To analyze the blasphemy speech against the holy book, a qualitative research method with a forensic linguistic approach is...
Psychological Research on Drug-related Crimes in Vietnam from the Criminological Perspective
In recent times, despite the situation of the Covid-19 epidemic has had serious developments on a global scale, drug crimes in the world, in the region and in the country have continued to be very complicated. Southeast...
Analyzing UNESCO’s Report on Global Educational Challenges Amidst The COVID-19 Pandemic
This article presents an analysis of the UNESCO report on global educational challenges in the context of the Coronavirus Disease 2019 (Covid-19) pandemic. This paper examines the ways in which the pandemic has served to...
Challenging Misogyny: A Critical Examination of Gender Bias in Anton Chekhov's 'The Bear
"The Bear" by Anton Chekhov is a one-act play that explores the theme of misogyny through the interactions between the characters Smirnov and Mrs. Popova. Smirnov's misogynistic beliefs are revealed as he objectifies and...
Exploring the Influence of Environmental Knowledge on Solid Waste Disposal Practices among College Students at a Community College
In the pursuit of sustainable living and environmental stewardship, educational institutions play a pivotal role in shaping the attitudes and behaviours of the next generation. This research investigates the intricate in...