For almost a century, we document a significant January effect on the French equity market. We find strong evidences in favor of the tax-loss selling explanation for this phenomenon. Indeed, the January effect was insignificant before the introduction of a “confiscatory tax” on capital gains...

This article investigates the effects of governmental activity (turnover and color) on stock returns in France which suffered 150 different governments between 1871 and 2008. An appointment ends an uncertainty: when a government is appointed the average monthly stock price return is three times...

We combine a new dataset of daily French stock prices around October 1929 with the existing daily series of the Dow Jones to show the lack of any effect of the US crash on the Paris market. This dead calm is confirmed by the stability of the volumes and narratives of the time. This evidence...