Skip to main content
Future Business Journal

Table 6 T-test of means for “Turn-of-the-Month-Effect” of year 2016

From: The turn-of-the-month effect in Pakistani stock market

 

TOM

ROM

Difference

Fraction

Mean

0.461

0.077

0.383

0.57

SD

0.77

0.68

0.36

 

t-stat

4.12***

1.62

3.41***

 
  1. Notes: The table reports mean values of daily “turn-of-the-month” and “rest-of-the-month” returns of “KSE-100 Index” for Year 2016. Moreover, t-statistics is also reported by keeping the hypothesized mean equal to zero. 4th column is the difference between “turn-of-the-month” and “rest-of-the-month”. Last column is of fraction which is computed by dividing the total return generated during “turn-of-the-month” period by aggregate return of the overall “KSE-100 Index”. (*p < 0.1; **p < 0.05;***p < 0.01)
Back to article page