DAY OF THE WEEK EFFECT: THE CASE OF MEXICO, INDONESIA AND TURKEY

Murhadi, Werner Ria (2015) DAY OF THE WEEK EFFECT: THE CASE OF MEXICO, INDONESIA AND TURKEY. In: PROCEEDING THE 12th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT. Department of Management FBE Ubaya, Makasar. ISBN 978-979-99365-9-2

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Abstract

This study aims to determine whether there is the phenomenon of calendar anomalies, especially the day of the week effect in the stock market of Mexico, Indonesia and Turkey. All three are known as MINT (Mexico, Indonesia, Nigeria and Turkey) are predicted to be the engine of world economic growth over the next ten years. The sample used in this study is the daily data of stock index movements in each country, during the period from 2009 to early February 2014. The results showed the absence of the phenomenon of day of the week effect in the equity markets of Mexico and Turkey. Different results occur in the Indonesian capital market which found there were differences in daily returns, the average return was lowest on Mondays and highest return on Wednesday.

Item Type:	Book Section
Uncontrolled Keywords:	calendar anomalies phenomenon, day of the week effect, daily return
Subjects:	H Social Sciences > HG Finance
Divisions:	Faculty of Business and Economic > Department of Management
Depositing User:	Werner R. Murhadi 31124
Date Deposited:	28 Jan 2019 03:46
Last Modified:	24 Mar 2021 16:00
URI:	http://repository.ubaya.ac.id/id/eprint/34223

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• DAY OF THE WEEK EFFECT: THE CASE OF MEXICO, INDONESIA AND TURKEY. (deposited 01 Mar 2016 05:52)
  • DAY OF THE WEEK EFFECT: THE CASE OF MEXICO, INDONESIA AND TURKEY. (deposited 28 Jan 2019 03:46) [Currently Displayed]

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