Does the sales seasonality anomaly exist in China?

Jiexiang Huang, Yongxian Tan*, Hailong Zhao

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)


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.

Original languageEnglish
Article number101425
JournalPacific Basin Finance Journal
Publication statusPublished - Oct 2020
Externally publishedYes


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