BOM beginning of month

Through the demonstration,we find there is a statistically notable and positive turn-of-the-month effect in the security market of our country.

通过对我国证券市场实证分析,发现我国证券市场存在显著的正的月初效应,即每月的前6个交易日和上个月的最后一个交易日的平均收益率显著高于其他交易日的平均收益率。