This study investigates the nature of seasonality in the monthly stock returns derived from a general index of the Kuwait Stock Exchange. A structural time series model incorporating stochastic dummies reveals that seasonality is present but it is deterministic as implied by the constancy of the...

We test for asymmetry in the price-volume relation, using a sample of 36 individual stocks listed on the Kuwait stock exchange. For this purpose, we employ an asymmetric autoregressive distributed lag (ARDL) model that relates trading volume to positive and negative price changes. The results...