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The Weekend Effect: Trading Patterns of Individual and Institutional Investors
Published: 03/01/1990 | DOI: 10.1111/j.1540-6261.1990.tb05089.x
JOSEF LAKONISHOK, EDWIN MABERLY
In this paper, we document regularities in trading patterns of individual and institutional investors related to the day of the week. We find a relative increase in trading activity by individuals on Mondays. In addition, there is a tendency for individuals to increase the number of sell transactions relative to buy transactions, which might explain at least part of the weekend effect.