This paper reviews on literature review in the holiday effect, the "holiday effect" caused by the upsurge of consumer enthusiasm for the relevant industries to bring out a seasonal increase in earnings. In this context, the stock market also shows abnormal price fluctuations pre-holiday and post-holiday, namely the "holiday effect" of the stock market. After reviewing the literature on holiday effects all over the world, we then found that not matter developing countries or developed countries, they almost existing holiday effect. Two, some of the holiday are affected by culture, and some are non-culture. Last, most of the scholars examined some main index when doing research. Actually, the sector index is also very important in the research.
Volume: Volume 24
Issues: Issue 3
Keywords: Stock Markets, Important in the Research, Remain Unclear.