PurposeIn this study, the authors evaluate seven calendar anomalies’–the day of the week, weekend, the month of the year, January, the turn of the month (TOM), Ramadan and Eid festivals–effects in both the conventional and Islamic stock indices of Bangladesh. Also, the authors examine whether these anomalies differ between the two indices.Design/methodology/approachThe authors select the Dhaka Stock Exchange (DSE) Broad Index (DSEX) and the DSEX Shariah Index (DSES) of the DSE as representatives of the conventional and Islamic stock indices respectively. To carry out the investigation, the authors employ the generalized autoregressive conditional heteroskedasticity (GARCH) typed models from January 25, 2011, to March 25, 2020.FindingsThe study’s results indicate the presence of all these calendar anomalies in either conventional or Islamic indices or both, except for the Ramadan effect. Some significant differences in the anomalies between the two indices (excluding the Ramadan effect) are detected in both return and volatility, with the differences being somewhat more pronounced in volatility. The existence of these calendar anomalies argues against the efficient market hypothesis of the stock markets of Bangladesh.Practical implicationsThe study’s results can benefit investors and portfolio managers to comprehend different market anomalies and make investment strategies to beat the market for abnormal gains. Foreign investors can also be benefited from cross-border diversifications with DSE.Originality/valueTo the authors’ knowledge, first the calendar anomalies in the context of both conventional and Islamic stock indices for comparison purposes are evaluated, which is the novel contribution of this study. Unlike previous studies, the authors have explored seven calendar anomalies in the Bangladesh stock market's context with different indices and data sets. Importantly, no study in Bangladesh has analyzed calendar anomalies as comprehensively as the authors’.
Among other frontline fighters, journalists have been the first responders to the pandemic of the "COVID-19" virus. Because of following professional responsibilities, they have become highly vulnerable to get exposed to the risk. As a result, providing safety measures to them has received the highest priority at this time. It has been urged by national and international organizations and associations to media employers to provide safety measures to their respective journalists. This study aims to examine the management of media employers of Bangladesh in providing safety measures to journalists. The study interviews 48 journalists of 12 newspapers and 12 television channels, selecting one reporter and one copy editor from each media. The results reveal that the majority of journalists received inadequate, non-standard, irregular, imbalanced, and improper safety measures while the rest got nothing because of the employer’s total negligence and financial crisis. The study also shows that the media employers failed to distribute safety measures between reporters and copy editors equally. Based on the findings, the study concludes by calling for a proper safety plan to protect journalists from health risks.
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