Boyle, Glenn; Hagan, Andrew; O'Connor, R. Seini; … - In: New Zealand Economic Papers 38 (2004) 1, pp. 65-85
We analyse the reaction of the New Zealand stock market to five economically-neutral events that psychology research indicates have varying degrees of influence on emotion and mood. Contrary to behavioural finance principles, only one of these events is associated with mean or median returns...