The Existence of ''reverse'' Weekend Effect: the Case of Nairobi Stock Exchange

Abstract

The objective of this study was to investigate whether the NSE exhibits the reverse weekend effect. The reverse weekend effect anomaly purports that Monday returns are significantly positive and larger than those on other days of the week. The data used in this study consisted of daily stock returns of 32 sampled companies listed continuously at the NSE from 1st January 2001 to 31st December 2005.........................................