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Witching Days and Abnormal Profits in the US Stock Market

Caporale, Guglielmo Maria; Plastun, Alex - 2021

This paper examines price effects related to witching days in the US stock market using both weekly and daily data for three major indices, namely the Dow Jones, SP500 and Nasdaq, over the period 2000-2021. First it analyses whether or not anomalies in price behaviour arise from witching by...

Persistent link: https://www.econbiz.de/10013323081

Seven Pitfalls of Technical Analysis

Caporale, Guglielmo Maria; Plastun, Alex - 2023

This paper examines the main drawbacks of technical analysis. Although this is widely used by practitioners, from an academic perspective it can only be seen as a form of “voodoo finance”. In particular, it runs into the following pitfalls: Subjectivity; Doubtful assumptions; Unjustified...

Persistent link: https://www.econbiz.de/10014262699

Overfunding and Signaling Effects of Herding Behavior in Crowdfunding

Kapounek, Svatopluk - 2019

The paper employs a dynamic market-wide herding behavior measure of 117,166 lending-based campaigns in 119 online … show that herding behavior plays an important signaling role in reducing opportunity costs if the auction does not receive … enough monetary bids. Additionally, our threshold models identify significant herding behavior after funding goals are raised …

Persistent link: https://www.econbiz.de/10012857910

Herding, Warfare, and a Culture of Honor : Global Evidence

Cao, Yiming; Enke, Benjamin; Falk, Armin; Giuliano, Paola; … - 2022

According to the widely known ‘culture of honor’ hypothesis from social psychology, traditional herding practices have … willing to take revenge in global surveys. We conclude that herding practices generated a functional psychology that plays a …

Persistent link: https://www.econbiz.de/10013308100

Non-Linearities and Persistence in US Long-Run Interest Rates

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2021

This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...

Persistent link: https://www.econbiz.de/10013314848

The Idea of Jurisdictional Representation in a Federation : A Proposal and Illustrations from Recent Canadian and US Elections

Ahsan, Syed M. - 2021

The idea of proportional representation has been circulating for over two hundred years and is widely practiced, among other, in post-war Europe. The primary focus is to allow smaller parties, minorities and other disenfranchised groups in society systematic representation in the national...

Persistent link: https://www.econbiz.de/10013315004

The Short and the Long of it : Stock-Flow Matching in the US Housing Market

Smith, Eric; Xie, Zoe; Fang, Lei - 2022

This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability a house sells declines sharply after listing for two weeks....

Persistent link: https://www.econbiz.de/10014243085

Mavericks, Universal, and Common Owners - the Largest Shareholders of U.S. Public Firms

Amel-Zadeh, Amir; Kasperk, Fiona; Schmalz, Martin C. - 2022

We construct a novel data set to show that, between 2003-2020, up to one-fifth of America’s largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of “universal” and...

Persistent link: https://www.econbiz.de/10014077008

Divided Government and Polarization : Regression-Discontinuity Evidence from US States

Repetto, Luca; Sosa Andrés, Maximiliano - 2022

This paper studies how divided government – arising when control of the government branches is split between parties – affects the polarization of the legislature and policy implementation. Using data on electoral and legislative outcomes for US states and a regression-discontinuity design,...

Persistent link: https://www.econbiz.de/10014081049

Does Public Policy Affect Attitudes? Evidence from Age-Based Health Insurance Coverage Policies in the United States

Yörük, Barış K. - 2022

The existing literature provides evidence that public opinion and attitudes often affect public policy. However, little is known on how public policy might affect public attitudes and norms. I present new evidence on this topic by using age-based health insurance policies in the United States as...

Persistent link: https://www.econbiz.de/10014082237