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Table 1 Day-of-the-week mood scores (Monday through Friday)

From: Day-of-the-week returns and mood: an exterior template approach

Day 2007 scores Farber original scores Farber scores transformed Mood score - simple average Mood score -weighted average
Monday 5.21 6.10 5.00 5.11 5.13
Tuesday 5.66 5.00 5.90 5.78 5.75
Wednesday 5.78 4.90 5.98 5.88 5.86
Thursday 6.67 4.30 6.47 6.57 6.60
Friday 7.67 2.90 7.62 7.64 7.65
  1. Table 1 Presents mood templates for days of the week from Monday to Friday. The mood scores are obtained from two sources, a study conducted by Farber (1953) and a more recent survey we conducted in 2007. The column titled “2007 scores” presents average mood levels in our 2007 sample of 136 third-year finance students. The second column presents results from Farber’s (1953) study. The third column presents Farber’s scores linearly transformed to the basis of our 2007 scores. The forth column is a simple average of the first and third columns. The fifth column is a weighted average of the first and third columns, with student numbers serving as the weights (Farber’s sample consists of 80 students while in ours there are 136 students)