This article documents that political factors can be linked to that part of stock prices which cannot be explained by the standard present value models. The nonfundamental component of stock market index appears to be significantly influenced by the political orientation of the president and his...

This dissertation examines with three independent studies the impact of regulatory changes or potential self-regulation on stock returns and equity risk of affected companies. The focus is therefore laid on the the (renewable) energy sector and on the financial industry. Based on the event study...