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 journalArticle

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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