A Historical Look at the Monday Effect

Amani K. Bouresli; Fayez A. Abdulsalam

Article Details

A Historical Look at the Monday Effect

Authors:

Amani K. Bouresli | Fayez A. Abdulsalam

Publisher:

Kuwait University

Journal:

Arab Journal of Administrative Sciences Vol.8 Issue 3, pp.435-453

Document Type:

Article

Publication Date:

1/2001

Document Language:

English

Document ID (Org No.):

2001943448

pISSN:

2957-3521

Keywords:

Abstract:

 This paper provides further evidence on the well-known Monday effect. We show that the Monday effect occurs primarily in the last two weeks (fourth and fifth) of the month. According to the estimated regression model based on the DJIA index this result holds for most of the sub-periods during (1901-1998) sampling period. Furthermore, we found little evidence to support one of the potential explanations for our findings that the Monday effect is largely caused by the highly positive return of the previous trading day, since there was no significant correlation between Monday's return and prior day return. Finally, we also found that although the effect of the Monday anomaly has decreased over the last two decades, however: it is still significantly less than all other days of the week.

Article Details

A Historical Look at the Monday Effect

Authors:

Amani K. Bouresli | Fayez A. Abdulsalam

Publisher:

Kuwait University

Journal:

Arab Journal of Administrative Sciences Vol.8 Issue 3, pp.435-453

Document Type:

Article

Publication Date:

1/2001

Document Language:

English

Document ID (Org No.):

2001943448

pISSN:

2957-3521

Calendar Anomaly

Monday Effect

Earnings Forecast

Investment

Issues

Article Details

A Historical Look at the Monday Effect

Authors: Amani K. Bouresli | Fayez A. Abdulsalam

Publisher: Kuwait University

Journal: Arab Journal of Administrative Sciences Vol.8 Issue 3, pp.435-453

Document Type: Article

Publication Date: 1/2001

Document Language: English

Document ID (Org No.): 2001943448

pISSN: 2957-3521

Calendar Anomaly

Monday Effect

Earnings Forecast

Investment

Issues

Authors:

Amani K. Bouresli | Fayez A. Abdulsalam

Publisher:

Kuwait University

Journal:

Arab Journal of Administrative Sciences Vol.8 Issue 3, pp.435-453

Document Type:

Article

Publication Date:

1/2001

Document Language:

English

Document ID (Org No.):

2001943448

pISSN:

2957-3521