Feedback Trading and the Ramadan Effect in Frontier Markets

Panos Andrikopoulos, Yuetin Cui, Samar Gad, Vasileios Kallinterakis

Research output: Contribution to journalArticle

Abstract

We examine the presence of the Ramadan effect in feedback trading drawing on a sample of eleven majority Muslim markets for the period of 29/6/2001 to 1/8/2016. Feedback trading is significant in several of these markets, appearing stronger outside, rather than within, Ramadan. These results hold for the full sample period, including before and after the global financial crisis raising the possibility that Ramadan’s widely documented lower volatility is related to the reduced presence of feedback trading during that month. We attribute our findings to Ramadan’s traditionally documented low volumes rendering feedback trading less feasible during that month.
Original languageEnglish
Article number101085
JournalResearch in International Business and Finance
Volume51
Early online date12 Aug 2019
DOIs
Publication statusPublished - 1 Jan 2020

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Feedback trading
Global financial crisis
Muslims

Keywords

  • Feedback trading
  • Ramadan effect
  • Frontier markets

ASJC Scopus subject areas

  • Finance

Cite this

Feedback Trading and the Ramadan Effect in Frontier Markets. / Andrikopoulos, Panos; Cui, Yuetin; Gad, Samar; Kallinterakis, Vasileios .

In: Research in International Business and Finance, Vol. 51, 101085, 01.01.2020.

Research output: Contribution to journalArticle

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