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previous work in this area. We find that politicians with similar beliefs hold similar portfolios and that more liberal members … engage in more socially responsible investing (SRI), even within political parties. Politicians disproportionately favor the …
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We show that stock prices underreact when there is a political event, reflected in higher momentum returns. We conjecture that political news crowds out stock news cause investors to distract, trade more indexes and underreact to firm specific news. We analyze momentum returns following general...
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