GSRA Postion F09-39
An Examination of the Day-of-the-Week Effect in the Gulf Cooperation Council Emerging Equity Markets
Faculty Name: Seyed Mehdian
Department: School of Management
Campus Address: 4171 WSW
Email: seyed@umich.edu
Phone: 8107623318
Project Description: Money effect is generally referred to a phenomenon in the stock market that returns on Monday tend to be lower (and negative) compared to the other days of the week. There are several theories for the explanation of Monday effect and there exists a voluminous literature to test the existence of it not only in US but also in other advanced and emerging equity markets. The objective of this research is to investigate the presence of day-of-the-week effect in general and Monday effect in particulate in the Gulf Cooperation Council emerging markets. In addition, these counties due to their trading regime and market structure provide an opportunity to test the theories that attempt to explain the day-of-the-week effect.
Semesters Desired: Fall 2009; Winter 2010
GSRA Position Description: To collect and manage data, to collect and compile relevant research papers, to estimate simple statistical models, to prepare tables for the papers, etc
Specific Day/Time Requirements: Tuesdays and Thursdays
Special Requirements: To be familiar with Excel, basic statistical estimation, and data collection.
Graduate Students in These Programs May Apply: Business Administration (MBA); Physical Therapy (DPT)