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High stock returns before holidays: Existence and evidence on possible causes

R. A. Ariel

1990. DOI 10.1111/j.1540-6261.1990.tb03731

Has this study been replicated?

The atlas records 1 replication of this study. Recorded outcomes: 1 mixed. The earliest on record is from 2024.

Replications

• The Pre-Holiday Premium of Ariel (1990) Has Largely Become A Small-Firm Effect Out of Sample, Ko & Yang (2024). Critical Finance Review. Outcome recorded: mixed. We first confirm his results. Extending the sample to 1983 to 2019, we find that the pre-holiday effect now exists only among small firms. Outcome read from the abstract. View paper

Cite this record

Ariel, R. A. (1990). High stock returns before holidays: Existence and evidence on possible causes. The Journal of Finance, 45(5), 1611-1626

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