出版社：International Medical Journal Management and Indexing System
摘要：Over the last twenty years, many researchers have documentec that average rate of return from stocks in the month of January is higher than in any other month of Hin year. More recently, several researchers have ottered a convincing explanation for 50 called nlfect The window dressing hypothesis claims that high returns on risky securities in January are caused systematic shifts in portfolio holdings of institutionai investors at the turn of the year Tr1e purpose ot this paper is to provide some insights into this seasonal behaviour of stock prices by testing the window hypothesis and examining the impact mutual funds trading has had on the aggregate stock rnarkot in Portugal over the 1996-2001 period,
