Abstract
In this study we examine the existence of the phenomenon «Day of the Week Effect» in six European Indices after the September's 2001 attacks in USA, dividing the whole period according to the stock market's trend. We conclude that the phenomenon of the «Day of the Week Effect» seems to be weaker than it was in previous decades as a result of investor's behavior. Investors are more mature, well educated, with more professional attitude, characteristics that help stock markets to become more efficient.
Original language | English |
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Pages (from-to) | 6-17 |
Number of pages | 12 |
Journal | European Journal of Economics, Finance and Administrative Sciences |
Issue number | 8 |
Publication status | Published - Oct 2007 |
Keywords
- Day of the week effect
- International financial markets
- Investor's behavior
- Market efficiency
- Stock market trends