This paper investigates the possible existence and nature of the day-of-the-week effect during the contemporary financial crisis. For this reason six regional equity markets are selected: five emerging i.e. Turkey, Bulgaria, Romania, Ukraine and Cyprus, and one mature i.e. Greece. Our main focus...

In this study we try to briefly revise the day of the week effect (DOW) and to examine why there are conflicting empirical results through the time. Moreover, we try to add a new-alternative view to the specific area of study, adding a further possible explanation in calendar anomalies field of...

This paper investigates the nature of the day-of-the-week effects during the contemporary financial crisis. For this reason five equity markets are selected: Greece, Turkey, Bulgaria, Romania and Cyprus. Our main focus is in the possible change in the markets' characteristics before and during...