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DAY OF THE WEEK EFFECT IN CONVENTIONAL AND ISLAMIC STOCK INDEXES

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Abstract (2. Language): 
In this study, existence of day of the week (DOW) effect is examined pre/post subprime crisis periods and in terms of conventional/Islamic of indexes. Canada, Indonesia, Japan, UK and USA markets are examined for a period of 2003-2014. The findings of the study showed significant DOW effect for all indexes, however such effect is not persistent. When DOW effect examined in terms of conventional and Islamic indexes of each market, there is not persistent conformity on the DOW effect for both indexes of the same markets.

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