Ciclul lunar şi influenţa sa asupra rentabilităţilor bursiere din Europa Centrală şi de Est
The Lunar Cycle and Its Influence on Stock Returns in Central and Eastern Europe

Summary/Abstract: Belief in lunar effects, or effect of transylvania, as it is called, dates back to ancient times. Greek philosopher Aristotle said about the brain that is the "wet" body and thus most likely to be influenced by moon phase and tides that trigger. Today, in 2009, some police stations in the uk have increased the number of policemen in full-moon nights in an attempt to meet the alleged high rates of crime in this period. In the economic field, there is the assumption that the effect of month on investor mood is reflected in how they take trading decisions. Such a hypothesis seriously infringes the principle of effective market information, the foundation theory of capital markets for several decades

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