Suchergebnisse

AbstractThis study examines the presence of a day‐of‐the‐week effect over different presidential administrations. The results indicate that the day‐of‐the‐week effect prevails during the Democratic and Republican administrations. However, the pattern of the day‐of‐the‐week effect differs between the two presidential administrations. Specifically, the negative returns on Monday are more pronounced during the Republican than during the Democratic administrations. Therefore, explanations for the day‐of‐the‐week effect should take into account the changing pattern of the day‐of‐the‐week effect across presidential administrations.