Does the sales seasonality anomaly exist in China?
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Authors
Huang, Jiexiang
Tan, Yongxian
Zhao, Hailong
Date
2020Type
Journal Article
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Huang, J. and Tan, Y. and Zhao, H. 2020. Does the sales seasonality anomaly exist in China? Pacific-Basin Finance Journal. 63: 101425.
Source Title
Pacific-Basin Finance Journal
ISSN
Faculty
Faculty of Business and Law
School
School of Accounting, Economics and Finance
Collection
Abstract
In this paper, we examine the relationship between sales seasonality and future stock return in the US and Chinese markets. Consistent with Grullon et al. (2020), we find low-sales-season firms tend to significantly outperform high-sales-season firms in the US market. Our empirical results suggest that the sales seasonality anomaly does not exist in the Chinese market.
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