The day of the week effects in stockmarkets of countries with predominantly Muslim populations

Yardimci B., ERDEM S.

INTERNATIONAL JOURNAL OF ISLAMIC AND MIDDLE EASTERN FINANCE AND MANAGEMENT, vol.13, no.2, pp.195-218, 2020 (SSCI) identifier identifier

  • Publication Type: Article / Article
  • Volume: 13 Issue: 2
  • Publication Date: 2020
  • Doi Number: 10.1108/imefm-06-2018-0199
  • Journal Name: INTERNATIONAL JOURNAL OF ISLAMIC AND MIDDLE EASTERN FINANCE AND MANAGEMENT
  • Journal Indexes: Social Sciences Citation Index (SSCI), Scopus
  • Page Numbers: pp.195-218
  • Keywords: Muslim countries, Calendar anomalies, Day of the week effect, GARCH model, STOCK RETURNS, CALENDAR ANOMALIES, INVESTOR SENTIMENT, VOLATILITY, RAMADAN, IMPACT
  • Dokuz Eylül University Affiliated: Yes

Abstract

Purpose - The purpose of this paper is to investigate the day of the week (DoW) effect in stock markets of 19 countries with a predominantly Muslim population over the world.