The Weekend Effect: Trading Patterns of Individual and Institutional Investors

Josef Lakonishok and Edwin Maberly

Journal of Finance, 1990, vol. 45, issue 1, 231-43

Abstract: In this paper, the authors document regularities in trading patterns of individual and institutional investors related to the day of the week. They 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. Copyright 1990 by American Finance Association.

Date: 1990
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