; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Fiscal Year End and the January Effect: A Note"; ; "batchuser@example.com"; "Chari, V. V.", "Ofer, Aharon R.", "Jagannathan, Ravi"; "Federal Reserve Bank of Minneapolis"; "Stock returns", "Positive abnormal returns", "Excess returns", "Fiscal year", "January effect ", "Cyclical behavior"; "G12 - Asset Pricing; Trading Volume; Bond Interest Rates", "E32 - Business Fluctuations; Cycles"; "The fiscal year and the calendar year coincide for a large fraction of firms traded in the New York and American Stock Exchanges. It is therefore possible that part of the large positive abnormal return earned by stocks as a group during the first week of trading in January may be due to temporal resolution of uncertainty accompanying the end of the fiscal year. We study this hypothesis by examining whether stocks of firms with fiscal years ending in months other than December also realize positive abnormal returns, following the end of their fiscal years. We find that there are no excess returns for such firms in the first five trading days following the end of the fiscal year."^^; "1987-08"; "2018-03-13T20:48:36.925835293+00:00"^^; "https://doi.org/10.21034/wp.364"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-04-28T15:53:05.621395891+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "569", "129", "365"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "364"; "Cyclical behavior", "Stock returns", "Excess returns", "January effect ", "Fiscal year", "Positive abnormal returns"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .