The Impact of Supermoon on Stock Market Returns in Vietnam

  • Nguyen Ngoc Thach
  • Nguyen Van Diep
Conference paper
Part of the Studies in Computational Intelligence book series (SCI, volume 760)


The objective of the research is to analyze effects of the supermoon phenomenon on stock market returns in Vietnam. Data were obtained from daily series the VN-Index collected from HCMC Stock Exchange (HOSE) from 13/3/2002 to 31/12/2015, using estimation models including GARCH(1,1), GARCH-M(1,1) and TGARCH(1,1). The analysis result shows that GARCH-M(1,1) model proved to be effective in describing daily stock returns features. The findings shows that supermoon phenomenon has a significantly negative impact on the stock returns. This empirical evidence implies that the supermoon phenomenon has effects on behavior of investors, thus affecting financial decisions.


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Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  1. 1.Banking University of Ho Chi Minh CityHo Chi Minh CityVietnam
  2. 2.Ho Chi Minh City Open UniversityHo Chi Minh CityVietnam

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