Abstract

ABSTRACT This paper examines the effect of two economic events on Monday returns. More precisely, the study investigates the effects of the burst of the technology bubble in the year 2000 and the financial meltdown of 2008 on Monday returns. The results of this investigation show that the significantly negative Monday returns of small firms practically disappeared after the technology bubble. On the other hand, Monday stock returns of large firms become significantly positive after the year 2000 and in particular after the credit crash of 2008. Keywords event, Monday, stock

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