IDEAS home Printed from https://ideas.repec.org/p/gtr/gatrjs/jfbr136.html
   My bibliography  Save this paper

The Effects of the Days of the Week on the Indonesian Stock Exchange

Author

Listed:
  • Christiyaningsih Budiwati

    (Universitas Sebelas Maret, Indonesia Author-2-Name: SE,M.Si,Ak,CA Author-2-Workplace-Name: Universitas Sebelas Maret, Jl. Ir. Sutami 36a, Solo, Indonesia Author-3-Name: Ryan Noor Yudana Author-3-Workplace-Name: Universitas Sebelas Maret, Jl. Ir. Sutami 36a, Solo, Indonesia)

Abstract

Objective � The study aims to identify the difference of returns that occur on every trading day, to identify the occurrence of the phenomenon of the Day of the Week Effect; to identify the occurrence of Monday Effect on stock trading in the Indonesian Stock Exchange; and to identify the occurrence of Weekend Effect on the Indonesian Stock Exchange. Methodology/Technique � This study examines companies listed in the LQ 45 Index between January 2016 and December 2016. The results are tested using a comparative method. The sample used consists of 41 companies. The hypothesis was testing using a one-way ANOVA and independent sample t-test. Findings � The results show that there is a difference of stock return occuring on every trading, day indicating the occurrence of the day of the week effect phenomenon. Further, there was no Monday Effect phenomenon observed during the study period and there was no Weekend Effect Phenomenon observed during the study period. Novelty � Based on the results, it can be concluded that the phenomenon of the Day of the Week Effect occurred between January 2016 and December 2016, while the phenomenon of Monday Effect and Weekend Effect did not occur during the study period.

Suggested Citation

  • Christiyaningsih Budiwati, 2017. "The Effects of the Days of the Week on the Indonesian Stock Exchange," GATR Journals jfbr136, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr136
    as

    Download full text from publisher

    File URL: http://gatrenterprise.com/GATRJournals/pdf_files/JFBR%20Vol%202(4)oct-dec%202017/3.%20Christiyaningsih%20Budiwati.pdf
    Download Restriction: http://gatrenterprise.com/GATRJournals/online_submission.html
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Stock Return; The Day of The Week Effect; Monday Effect; Weekend Effect; LQ-45 Index;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gtr:gatrjs:jfbr136. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Prof. Dr. Abd Rahim Mohamad (email available below). General contact details of provider: http://gatrenterprise.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.