Stock market trends, day of the week effect and investor's behavior after the September's 2001 attacks

Dimitris Balios, Sophia Stavraki

    Research output: Contribution to journalArticlepeer-review

    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 languageEnglish
    Pages (from-to)6-17
    Number of pages12
    JournalEuropean Journal of Economics, Finance and Administrative Sciences
    Issue number8
    Publication statusPublished - Oct 2007

    Keywords

    • Day of the week effect
    • International financial markets
    • Investor's behavior
    • Market efficiency
    • Stock market trends

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