{"id":"https://openalex.org/W2136429322","doi":null,"title":"DAY OF THE WEEK EFFECT IN CENTRAL EUROPEAN STOCK MARKETS","display_name":"DAY OF THE WEEK EFFECT IN CENTRAL EUROPEAN STOCK MARKETS","publication_year":2012,"publication_date":"2012-01-01","ids":{"openalex":"https://openalex.org/W2136429322","mag":"2136429322"},"language":"en","primary_location":{"id":"pmh:oai:dspace5.zcu.cz:11025/17478","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/11025/17478","pdf_url":null,"source":{"id":"https://openalex.org/S4306400586","display_name":"Digital Library (University of West Bohemia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I92715842","host_organization_name":"University of West Bohemia in Pilsen","host_organization_lineage":["https://openalex.org/I92715842"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"\u010dl\u00e1nek"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5085850553","display_name":"Daniel Stav\u00e1rek","orcid":"https://orcid.org/0000-0001-5061-1721","observed_orcids":["https://orcid.org/0000-0001-5061-1721"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Daniel Stav\u00e1rek","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-5061-1721","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5031997931","display_name":"Tom\u00e1\u0161 Hery\u00e1n","orcid":"https://orcid.org/0000-0003-2027-7149","observed_orcids":["https://orcid.org/0000-0003-2027-7149"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Tom\u00e1\u0161 Hery\u00e1n","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-2027-7149","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":3.5453,"has_fulltext":true,"cited_by_count":16,"citation_normalized_percentile":{"value":0.93483596,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9814000129699707,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9814000129699707,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.017000000923871994,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.0007999999797903001,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/day-of-the-week-effect","display_name":"day-of-the-week effect","score":0.9879999756813049},{"id":"https://openalex.org/keywords/calendar-anomalies","display_name":"calendar anomalies","score":0.9929999709129333},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.8230000138282776},{"id":"https://openalex.org/keywords/conditional-volatility","display_name":"conditional variance","score":0.675000011920929},{"id":"https://openalex.org/keywords/garch-m-model","display_name":"GARCH-M model","score":0.8970000147819519},{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":0.8809999823570251},{"id":"https://openalex.org/keywords/central-european-stock-markets","display_name":"Central European stock markets","score":0.8360000252723694},{"id":"https://openalex.org/keywords/czech-republic","display_name":"Czech Republic","score":0.6959999799728394},{"id":"https://openalex.org/keywords/hungary","display_name":"Hungary","score":1.0},{"id":"https://openalex.org/keywords/poland","display_name":"Poland","score":0.75},{"id":"https://openalex.org/keywords/daily-returns","display_name":"daily returns","score":0.6140000224113464}],"concepts":[{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.6690082550048828},{"id":"https://openalex.org/C23922673","wikidata":"https://www.wikidata.org/wiki/Q180752","display_name":"Autoregressive conditional heteroskedasticity","level":3,"score":0.6460819244384766},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6451128721237183},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5788269639015198},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.5482426881790161},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.5374676585197449},{"id":"https://openalex.org/C18246116","wikidata":"https://www.wikidata.org/wiki/Q42962347","display_name":"Names of the days of the week","level":2,"score":0.5272846817970276},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.4983069896697998},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4379427433013916},{"id":"https://openalex.org/C21430997","wikidata":"https://www.wikidata.org/wiki/Q5159279","display_name":"Conditional variance","level":4,"score":0.4107789099216461},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.40173593163490295},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.344599187374115},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.1675848662853241},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.14821627736091614},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.10378047823905945},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:dspace5.zcu.cz:11025/17478","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/11025/17478","pdf_url":null,"source":{"id":"https://openalex.org/S4306400586","display_name":"Digital Library (University of West Bohemia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I92715842","host_organization_name":"University of West Bohemia in Pilsen","host_organization_lineage":["https://openalex.org/I92715842"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"\u010dl\u00e1nek"},{"id":"pmh:oai::38431","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},{"id":"pmh:oai:RePEc:pra:mprapa:38431","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:2136429322","doi":null,"is_oa":false,"landing_page_url":"https://dspace5.zcu.cz/bitstream/11025/17478/1/2012_04%20Day%20of%20the%20Week%20Effect%20in%20Central%20European%20Stock%20Markets.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3151721738","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/pra/mprapa/38431.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"MPRA Paper","raw_type":null}],"best_oa_location":{"id":"pmh:oai::38431","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/38431/1/MPRA_paper_38431.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2136429322.pdf","grobid_xml":"https://content.openalex.org/works/W2136429322.grobid-xml"},"referenced_works_count":18,"referenced_works":["https://openalex.org/W152014405","https://openalex.org/W158950531","https://openalex.org/W1526393845","https://openalex.org/W1768616697","https://openalex.org/W1970232882","https://openalex.org/W1989702879","https://openalex.org/W2000005098","https://openalex.org/W2069125621","https://openalex.org/W2078236117","https://openalex.org/W2101656928","https://openalex.org/W2131773668","https://openalex.org/W2138293190","https://openalex.org/W2140334718","https://openalex.org/W2141309745","https://openalex.org/W2157990046","https://openalex.org/W2185242313","https://openalex.org/W2610638845","https://openalex.org/W3124411298"],"related_works":["https://openalex.org/W152014405","https://openalex.org/W2254415927","https://openalex.org/W1768616697","https://openalex.org/W2911752743","https://openalex.org/W2255786383","https://openalex.org/W7162933475","https://openalex.org/W97410683","https://openalex.org/W2049545974","https://openalex.org/W3134853094","https://openalex.org/W1534116826"],"abstract_inverted_index":{"The":[0,29,116,135],"aim":[1],"of":[2,10,57,67,90,107,118,132,145,147,170,173,196,200,206,228,253],"the":[3,8,11,15,19,26,32,42,46,68,91,98,101,105,119,133,148,171,174,180,207,220,226,229,236,242,257],"paper":[4,30,48],"is":[5,59,122,141,186,193,232],"to":[6,61,109,164,247],"estimate":[7,75],"day":[9,117,146,172,205,215,227],"week":[12,120,149,208,230],"effect":[13,121,176,216,231],"in":[14,18,34,179,217],"stock":[16,94,239],"markets":[17,99,108],"Czech":[20,181],"\\nRepublic,":[21],"Hungary":[22,185],"and":[23,41,70,84,111,161,183,241],"Poland":[24],"over":[25],"period":[27,40,56],"2006\u20132012.":[28],"fills":[31],"gap":[33],"literature":[35],"as":[36],"\\nthe":[37],"most":[38],"recent":[39,243],"countries":[43],"covered":[44],"by":[45],"present":[47],"have":[49,248],"not":[50,233],"been":[51],"studied":[52],"yet.":[53],"\\nThe":[54],"entire":[55],"estimation":[58],"divided":[60],"six":[62],"sub-periods":[63],"capturing":[64],"individual":[65],"phases":[66],"\\nfinancial":[69],"economic":[71],"crisis.":[72],"We":[73,223],"separately":[74],"a":[76,142],"modified":[77],"GARCH-M":[78],"(1,1)":[79],"model":[80],"for":[81,124,235],"each":[82,85],"\\ncountry":[83],"sub-period":[86],"using":[87],"daily":[88,126],"returns":[89,127,218],"major":[92],"national":[93],"market":[95],"indices.":[96],"\\nAlthough":[97],"share":[100],"main":[102],"development":[103],"trends":[104],"reactions":[106],"domestic":[110],"\\ninternational":[112],"shocks":[113],"differ":[114],"remarkably.":[115],"measured":[123],"both":[125],"\\nand":[128],"conditional":[129],"variance":[130],"(volatility)":[131],"returns.":[134],"results":[136],"clearly":[137],"indicate":[138],"that":[139,225],"there":[140],"little":[143],"\\nevidence":[144],"effect.":[150],"Daily":[151],"calendar":[152],"anomalies":[153],"are":[154],"rather":[155],"sporadic,":[156],"isolated,":[157],"unstable":[158],"\\nover":[159],"time":[160],"often":[162],"opposite":[163],"theoretical":[165],"assumptions.":[166],"While":[167],"some":[168],"occurrences":[169],"\\nweek":[175],"were":[177],"revealed":[178],"Republic":[182],"Poland,":[184],"almost":[187],"completely":[188],"free":[189],"\\nof":[190,204],"anomalies.":[191],"There":[192],"no":[194,214,249],"phase":[195],"financial":[197,244],"crisis":[198,245],"characteristic":[199],"significantly":[201],"increased":[202],"incidence":[203],"effects.":[209],"However,":[210],"only":[211],"stage":[212],"with":[213],"was":[219],"pre-crisis":[221],"\\nperiod.":[222],"conclude":[224],"typical":[234],"Central":[237],"European":[238],"\\nmarkets":[240],"seems":[246],"impact":[250],"on":[251],"existence":[252],"this":[254],"phenomenon":[255],"\\nin":[256],"markets.":[258]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2}],"updated_date":"2026-11-11T12:16:26.678958","created_date":"2016-06-24T00:00:00"}