01032nas a2200157   4500008004100000245007900041210006900120260000900189300001200198490000700210520053700217653001200754100002000766700001600786856007200802       2018                        eng d00aChinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation0 aChinese Lunar New Year Effect Investor Sentiment and Market Dere  c2018  a175-1840 v273 aThis paper provides empirical evidence and a behavioral explanation for the Chinese Lunar New Year (CLNY) effect and investigates whether the holiday effect weakens after market deregulation. Using emotion proxies from literature, we find that positive emotion plays an important role in contributing to higher returns surrounding the CLNY. We also show that the CLNY effect weakens when foreign investors’ participation increases, suggesting that the market deregulation may have contributed to this diminishing calendar anomaly.10aFinance1 aTeng, Chia-Chen1 aYang, Jimmy  uhttps://www.sciencedirect.com/science/article/pii/S1544612317305640