We test for seasonality in returns of various industry indices in the Istanbul Stock Exchange. The residual returns for all the industry indices in the Turkish stock market are computed and analyzed using the CAPM model. The empirical evidence based on monthly return data from MATRİKS points...

Previous research finds that, owing to the representativeness heuristic bias, earnings seasonal rank negatively predicts stock returns surrounding earnings announcements (EAs) in China’s A-share markets. We examine whether management earnings forecasts (MEFs) help alleviate the stock return...

We examine whether management earnings forecasts (MEFs) help reduce the stock return seasonality associated with earnings seasonality around earnings announcements (EAs) in Chinese A-share markets. We find that firms in historically low earnings seasons outperform firms in high earnings seasons...

Previous research finds that historical seasonal earnings rank negatively predicts stock returns surrounding earnings announcements (EAs) in China’s A-share markets. We examine whether management earnings forecasts (MEFs) help reduce the stock return seasonality associated with earnings...

Previous research finds that stock analysts exhibit both optimistic and pessimistic biases in their earnings forecasts, with the net result being a consistent, but declining, overestimation of forecasted earnings. We extend this research by examining the potential effect of Seasonal Affective...