Title: The Day-of-the-Week Anomaly: The Role of Institutional Investors
Abstract: Studies have suggested that individual investor behavior is the primary cause of the weekend effect. This examination of differences in the daily returns of securities held primarily by individual investors versus securities held by institutional investors indicates that institutional behavior is the primary source of day-of-the-week return differences. Day-of-the-week patterns in returns and volumes are more pronounced in securities in which institutional investors play a greater role.
Publication Year: 1995
Publication Date: 1995-05-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 135
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot