اختبار أثر يوم من الأسبوع في سوق الإمارات للأوراق المالية : دراسة قياسية

Abstract EN

The effect of the day in the week is one of the calendar anomalies observed in the financial markets, and it is one of the irregularities of the weak formula of an efficient market hypothesis.

historically, the negative returns of the first trading day of the week have been the most common outcome in line with the improvement in market efficiency and the emergence of behavioral finance.

this paper aims to test the impact of a day of the week in the emirates stock market, during the period from 02 / 02 / 2020 to 30 / 06 / 2022, using descriptive statistics and arch models.

the study was based on daily data from FTFADGI and DFMGI indexes.

the results demonstrate the presence of an effect for a day of the week in the emirates stock market, which provide evidence of the inefficiency of this market at the weak level.