Resumo

ARBELAEZ-GARCIA, David  e  ROSSO, John. Seasonal effects on capital stock markets of the Pacific Alliance. estud.gerenc. [online]. 2016, vol.32, n.141, pp.358-368. ISSN 0123-5923.  https://doi.org/10.1016/j.estger.2016.10.002.

This document aims at testing the existence of the seasonal effects day of the week, month of the year, change of month, end of December and superstition in the capital stock markets of the countries belonging to the Pacific Alliance, during 2002-2014. For this, parametric and no parametric statistics econometric methodology were used. The results demonstrated that the day of the week effect existed in the Chilean, Colombian, and Peruvian markets, whose behavior, in general, agrees with the literature. In addition, change of month effect existed in the Mexican and Peruvian markets, whose behavior also agrees with the literature. The month of the year, end of December and superstition effects were not detected.

Palavras-chave : Pacific Alliance; Economic integration; Market efficiency; Seasonal effects; Capital stock markets.

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