Open AccessDoes Friday-Monday Dance with Harmony?
Author(s) -
Said Kelana Asnawi,
Chandra Wijaya,
Dergibson Siagian,
Salam Fadillah Alzah
Publication year - 2021
Publication title -
jurnal organisasi dan manajemen
Language(s) - English
Resource type - Journals
eISSN - 2442-9155
pISSN - 2085-9686
DOI - 10.33830/jom.v17i1.1261.2021
Subject(s) - names of the days of the week , harmony (color) , risk–return spectrum , expected return , dance , market liquidity , advertising , economics , business , financial economics , monetary economics , art , literature , visual arts , portfolio , philosophy , linguistics
This research is about the weekend effect, a combination of Friday and Monday, and its impact on Monday trading volume. It was found that there was no association between Friday return and Monday return. Still, they occur a combination both Friday and Monday negative return was more than combination both Friday and Monday positive return. There are both combinations (Friday and Monday), and price fluctuation has not affected Monday's volume. There is also no difference in characteristics between groups: Friday and Monday negative return and Friday and Monday positive return. Thus, Friday-Monday dances with harmony; the efficient market occurs.
Keywords: Weekend Effect; Trading Volume; Liquidity; Risk-Return; Market Efficient