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The purpose of this paper is to ascertain the monthly seasonality in the Indian stock market after taking into consideration the market features of leptokurtosis, volatility clustering and the leverage effect.

Augmented Dickey-Fuller, Phillips-Perron and Kwaitkowski-Phillips-Schmidt-Shin tests are deployed to check stationarity of the series. Autocorrelation function, partial autocorrelation function and Ljung-Box statistics are employed to check the applicability of volatility models. An exponential generalized auto regressive conditionally heteroskedastic model is deployed to test the seasonality, where the conditional mean equation is a switching model with dummy variables for each month of the year.

Though the financial year in India stretches from April to March, the stock market exhibits a November effect (returns in November are the highest). Cultural factors, misattribution bias and liquidity hypothesis seem to explain the phenomenon.

The paper endeavors to provide a review of possible explanations behind month-of-the-year effect documented in literature in the past four decades. Further, the unique evidence from the Indian stock market supports the argument in the literature that monthly seasonality, by nature, may not be a consistent/robust phenomenon. Therefore, it needs to be examined from time to time.

As the seasonality in the stock market and resultant anomalies are dynamic phenomena, the paper reports the current seasonality/anomalies prevalent in the Indian market. This would aid investors in designing short-term investment portfolios (based on anomalies present) in order to earn abnormal returns.

This chapter examines investor overreaction and seasonality in the stock markets of Korea, Hong Kong and Japan using data for the period of 1985–2004. Evidence suggests little to no reversals following days of excessive increase, but all three indices reversed 35% to 45% following days of excessive decline. Seasonality analysis revealed month-of-the-year effects, day-of-the-week effects, the Friday (weekend) effect and the January effect. The Monday effect was not evident.

The purpose of this paper is to report and comment on the High Court ruling on recoverability of claimants' losses arising from unauthorised insurance activity.

The paper outlines the facts surrounding the case and comments on the decision.

The court pointed out that the issues that fell to be determined were all law and principle and not of fact.

The paper highlights how this was the first occasion that the courts had had cause to consider the effect of some key provisions of Financial Services and Markets Act 2000 that relate to the enforceability and redress position in the context of unauthorised insurance business.

The purpose of this paper is to provide a plausible explanation for the “sell in May” anomaly observed in US stock markets. A heretofore unexplained strategy of selling stock in May and not returning to the market until November has been shown to outperform a simple strategy of buying and holding stock all year long.

The authors compare the seasonal performance of three US size-based portfolios for the May–October and November–April periods considering whether or not they were in years with US congressional elections, which occur every two years.

While the sell-in-May effect appears to persist in the long run, the authors find that the anomaly is not present in non-election years. There is no significant difference between the May–October and November–April stock returns in non-election years. The observed sell-in-May effect is driven by poor stock returns in the May–October periods leading up to US presidential or congressional elections and subsequent strong performance in the November–April periods immediately following elections.

The paper offers an election-year effect as an explanation of the sell-in-May anomaly that has been observed in the US stock market. Other possible explanations of the effect, such as seasonal affective disorder, the weather, and daylight savings time, have not gained widespread acceptance.

This paper examines the influence Japan’s participation in the TPP negotiations will have on the course of subsequent East Asian economic integration, and mainly from the perspective of the three Northeast Asian countries of Japan, China and the ROK. In the first half, as a premise thereto, we first bring together the development of the FTA policies of China, the ROK and Japan, and then the connections with East Asian economic integration.

The results of five experiments on design of work stations are discussed. The first two experiments investigated the effects of work surface height on performance, the third investigated eye‐hand coordination at two heights and directions of movement, the fourth investigated both height and direction of movement, and the fifth studied the effect of angle and direction (in versus out) of movement. It was found that the optimum height is about one inch below the elbow. The effect of angle at a height is important: the best moves for a right‐hand movement are at 45 degrees.

This study investigates whether cyclical turning points in the U.S. and U.K. stock markets are unevenly distributed over the year, that is, whether they are more likely to occur during certain months of the year. In examining this form of periodic seasonality, a Markov switching‐model is applied to U.S. and U.K. stock market chronologies of monthly peak and trough dates for the periods May 1835 through March 2000 and May 1836 through September 2000, respectively. In order to provide some evidence on robustness with respect to the sample data, results are obtained for the entire sample periods as well as for various sub‐. For both markets, the evidence indicates that while the probability of moving from an expansion to a contraction does not depend on the month of the year, the probability of switching from a contraction is greater for some months. Additionally, the durations of contractions, but not expansions, are dependent on the month of the year in which they begin.

The purpose of this paper is to conceptualize the use of Twitter hashtag as a strategy to enhance the visibility and symbolic power of social movement-related information. It examined how characteristics of hashtag drove information virality during a networked social movement.

Twitter data from two days during the Occupy Wall Street Movement in 2011 were collected. With network analysis, the authors identified popular hashtag types and examined hashtag co-occurrence patterns during the two contrasting movement days. It also provides a comparative analysis of how major types of viral hashtag may play different roles depending on different movement cycles.

The authors found that the role of hashtag influencing information virality may vary based on the context of the tweets. For example, movement participants applied more strategic hashtag combinations during the unexpected event day to reach different social circles. Consistent patterns were identified in mobilizing influential actors such as public figures. Different use patterns of media outlet hashtag were found across the two days.

Implications on how hashtag type and event dynamics may shape hashtag co-occurrence patterns were discussed.

I evaluate how the tax reform of 2012 reduced informality in Colombia both theoretically and empirically. Theoretically, I develop a labor market model and obtain simulations indicating that the reform should reduce informality significantly. Empirically, I obtain difference-in-difference estimates from two household surveys. Estimates from the repeated cross-sections data indicate small, short-term effects and large long-term effects. Estimates from the household survey panel data are in line with these results. I also simulate difference-in-difference estimates with different combinations of changes in payroll taxes and enforcement indicating that large improvements would have been needed to obtain the corresponding econometric estimates.