After correcting industry returns for general market movements and known risk factors, using either the Single-Index or the Fama-French three factor models, we find no evidence of two well known political effects documented for general stock market returns in the United States. Contrary to the...

After correcting industry returns for general market movements and known risk factors, using either the Single-Index or the Fama-French three-factor model, we find no evidence of two well known political effects documented for general stock market returns in the United States. Contrary to the...