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Sentiment, Electoral Uncertainty and Stock Returns
Carvalho, Carlos - 2017
We study the effect of a huge sports sentiment shock, unrelated to economic conditions or government actions, on stock market outcomes. After Brazil's 7-1 humiliating defeat to Germany in the 2014 World Cup, which is likely to be one of the largest sports sentiment shocks ever, the stock market...
Persistent link: https://www.econbiz.de/10012961363
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Political Cycles and Stock Returns
Pastor, Lubos - 2019
We develop a model of political cycles driven by time-varying risk aversion. Agents choose to work in the public or … private sector and to vote Democrat or Republican. In equilibrium, when risk aversion is high, agents elect Democrats … presidencies. In the data, Democratic voters are more risk-averse and risk aversion declines during Democratic presidencies. Public …
Persistent link: https://www.econbiz.de/10012902363
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Tax Policy Uncertainty and Stock Return Volatility
Brown, Jennifer L. - 2017
This study finds that stock return volatility is higher during periods of high tax policy uncertainty (TPU), even after controlling for other sources of general macroeconomic uncertainty. Further, we find that the relation between TPU and stock return volatility is more pronounced where firms...
Persistent link: https://www.econbiz.de/10012973819
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Political geography and stock returns : the value and risk implications of proximity to political power
Kim, Chansog; Pantzalis, Christos; Park, Jung Chul - In: Journal of financial economics 106 (2012) 1, pp. 196-228
Persistent link: https://www.econbiz.de/10009666663
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The Equity Premium Puzzle Solution : Incentives to Under-Report Inflation
Korsos, Laszlo - 2020
equities has far outperformed that of risk-free, short-term US treasuries. Although there have been countless proposed …
Persistent link: https://www.econbiz.de/10012838903
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Trump, Regulation and Stock Returns
Kundu, Santanu - 2020
This paper provides causal evidence for the impact of changes in regulation on shareholder value. Using the 2016 US Presidential election as a shock to expectations about future regulatory policy, I find that stocks in the most regulated industries earned approximately 3.4% higher cumulative...
Persistent link: https://www.econbiz.de/10012852655
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Private Returns to Bureaucratic Appointments : Evidence from Financial Disclosures
Chaudhary, Amit; Yuan, Song - 2021
We examine whether bureaucrats with fixed salaries obtain high private returns. We digitize the financial disclosures of elite bureaucrats from India and combine this novel data with web-scraped career histories to estimate the private returns to public servants after bureaucratic reassignments....
Persistent link: https://www.econbiz.de/10013322427
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Does Election Impact on Stock Market Returns in Bangladesh?
Roy, Gourav; Khan, Md Atiqullah - 2021
This paper investigates the impact of parliamentary general election on the stock market returns by considering the previous fifteen days and the after fifteen days of each of six elections in Bangladesh held between 1991 and 2018. The study analyzed the election effect on stock returns through...
Persistent link: https://www.econbiz.de/10013323632
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Is It worth it? : on the returns to holding political office
Berg, Heléne - 2018
This paper estimate causal effects of being elected in a local election on monetary returns. The claim for causality can be made thanks to a research design where the income of some candidate who just barely won a seat is compared to that of some other candidate who was close to winning a seat...
Persistent link: https://www.econbiz.de/10011942829
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Stock Returns of Federal Reserve Officials
Couture, Cody; Smit, Abhiprerna - 2022
This paper examines the trading behavior of members of the Federal Reserve’s Federal Open Market Committee (FOMC). We calculate the financial market returns of FOMC members relative to the overall market and examine if there is any evidence of abnormal returns. We also test whether FOMC...
Persistent link: https://www.econbiz.de/10013403334