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    An Examination of the Day-of-The-Week Trading Patterns of Individual and Institutional Investors

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    An_Examination_of_the_Day-of-The-Week_Trading_Patt.pdf (482.4Kb)
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    https://www.researchgate.net/profile/Joel_Morse/publication/256032577_An_Examination_of_the_Day-of-The-Week_Trading_Patterns_of_Individual_and_Institutional_Investors/links/5820bb4708aeccc08af65cf0/An-Examination-of-the-Day-of-The-Week-Trading-Patterns-of-Individual-and-Institutional-Investors.pdf
    Permanent Link
    10.2139/ssrn.2140244
    http://hdl.handle.net/11603/4149
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    • UBalt Faculty Scholarship
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    Author/Creator
    Nguyen, Hoang
    Morse, Joel N.
    Date
    2012
    Type of Work
    8 pages
    Text
    journal articles
    Citation of Original Publication
    Nguyen, Hoang and Morse, Joel N., An Examination of the Day-of-The-Week Trading Patterns of Individual and Institutional Investors (September 1, 2012).
    Subjects
    Day of the week trading patterns
    Individual Investors
    Institutional Investors
    Trading Information
    Abstract
    This study examines the day-of-the-week trading patterns of individual and institutional investors. Consistent with previous evidence, we find an increase in the proportion of trading volume accounted for by individual investors on Monday. However, we document that this increase in the fraction of trading by individual investors on Monday is a result of a reduction in trading by institutional investors, and not because of an increase in trading by individual investors. In fact, the trading by individual investors is significantly lower on Monday than on any other weekday. We also document that the degree of day-of-the-week variation in trading volume by individual and institutional investors is positively associated with the quality and dissemination of public information proxied by the market capitalization of each company.


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    Robert L. Bogomolny Library
    University of Baltimore
    1420 Maryland Ave.
    Baltimore, MD 21201
    Email: knowledgeworks@ubalt.edu


    If you wish to submit a copyright complaint or withdrawal request, please email mdsoar-help@umd.edu.