Vol.9 No.1 : April 2014

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A Study of Recruitment & Selection of Employees in Public Sector Enterprises of India
Dr. S. Poornima

V. Chitra

Title A Study of Recruitment & Selection of Employees in Public Sector Enterprises of India
Author's Details
Author/s Dr. S. Poornima
Associate Professor, P.S.G.R.Krishnammal College for Women, Coimbatore
Email: pourni2007@gmail.com
Phone: -
Author/s V. Chitra
Assistant Professor, Karpagam Institute of Technology, Coimbatore
Email: chitra.nehha23@gmail.com
Phone: -


Abstract This study investigates whether Friday effect exist in NSE NIFTY. The weekend Effect or Day of the Week Effect has been a hot research topic among academicians for decades. The most popular Anomaly is the Friday Effect, meaning that the Friday’s Average Return is significantly higher than the Other Days’ Average Returns. The presence of Friday Effect defeats the basic premises of the Efficient Market Hypothesis. Besides, it has greater implications on the design of investment strategy in the long run. The outcome of the study initiate that there was Highest Mean Return recorded in Friday and the Lowest Mean Returns were recorded in Monday for the sample indices. The analysis of seasonality results point out there is no significant Friday Effect exists in NSE NIFTY during the study period.
Keywords Day of the Week Effect, Friday Effect, Efficient Market Hypothesis, Seasonality, Dummy Variable Regression Model
JEL Classification M51
Paper Code -
Other Link 1 www.jctindia.org/april2014/v9i1-6
Other Link 2
How to Cite -
Page No. 46-52
Manuscript Received 20-02-2014
Manuscript Revised 05-04-2014
Accepted 01-05-2014
Published 15-05-2014
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