TY - JOUR U1 - Wissenschaftlicher Artikel A1 - Miss, Sakhr A1 - Charifzadeh, Michel T1 - Revisiting the Monday effect: a replication study for the German stockmarket JF - Management review quarterly N2 - Monday is unique for its reputation as a “bad” day—one that is characterized by pessimism and reluctance as noted by Rystrom and Benson (Financ Anal J 45(5):75–78, 1989). But the extent to which this applies to stock markets is still in dispute. While early evidence points to a Monday effect leading to negative returns, recent studies tend to suggest its disappearance or reversal.As a replication study, this paper searches for new evidence of this effect in the German stock market.We use data on the German blue-chip index DAX between 2000 and 2017 to test for the presence of a Monday effect by applying regression and controlling with GARCH analysis. The observation period provides a detailed insight into different market phases in one of the most liquid and information efficient international stock markets. Our results contribute no evidence to the persistent existence of a Monday effect on the German stock market. Our analysis is robust against the background of different market sentiments before, during and after the financial crisis. KW - price patterns KW - day-of-the-week effect KW - Monday effect Y1 - 2020 SN - 2198-1620 SS - 2198-1620 U6 - https://doi.org/10.1007/s11301-019-00167-4 DO - https://doi.org/10.1007/s11301-019-00167-4 VL - 70 IS - 2 SP - 257 EP - 273 S1 - 17 PB - Springer CY - Berlin ; Heidelberg ER -