TAF PUBLISHING

The objective of the current study is to review the prior studies regarding calendar anomalies. For this purpose, the current study has adopted the review methodology and identified the most important studies in this area. Furthermore, the findings of these studies have been reviewed and summarized. By reviewing the previous studies, the current study has noted the growing inclination of recent studies to examine these anomalies. Also, the prevalence of these anomalies is documented in recent studies. The current study is among the first of those studies which have provided a comprehensive review of the previous studies conducted on the calendar anomalies. These summarized reviews of previous research findings may help future research studies hold a basic understanding of the existence of calendar anomalies in the world equity markets.