Monday mornings: individual investor trading on days of the week and times within a day

Richards, D and Willows, G 2019, 'Monday mornings: individual investor trading on days of the week and times within a day', Journal of Behavioral and Experimental Finance, vol. 22, pp. 105-115.


Document type: Journal Article
Collection: Journal Articles

Title Monday mornings: individual investor trading on days of the week and times within a day
Author(s) Richards, D
Willows, G
Year 2019
Journal name Journal of Behavioral and Experimental Finance
Volume number 22
Start page 105
End page 115
Total pages 11
Publisher Elsevier
Abstract Individual investors' demand for trading activity will vary over time according to their availability and desire to trade. Academic research has primarily investigated market wide trading activity, showing low trading activity on Mondays and high activity at the start and end of each day. It remains unknown whether individual investors' trading behavior mimics these market patterns. Instead research on individual investors shows that they overtrade in general and are less likely to trade losses. We research trading activity for 7 200 UK investors, finding these investors actually prefer trading on Mondays and trade in a W-shaped intraday pattern. Further investigation revealed that investors increased their selling of losses on Monday mornings, suggesting investors utilize spare time to process difficult trading decisions.
Subject Finance
Investment and Risk Management
Banking, Finance and Investment not elsewhere classified
Keyword(s) Monday
W-shape
Disposition effect
Trading frequency
Day of the week
DOI - identifier 10.1016/j.jbef.2019.02.009
Copyright notice © 2019 Published by Elsevier B.V.
ISSN 2214-6350
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Created: Tue, 26 Mar 2019, 09:36:00 EST by Catalyst Administrator
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