In this paper we demonstrate that legislation has a simple, yet previously undetected impact on firm stock prices. While it is understood that the government and firms have an important relationship, it remains difficult to determine which firms any given piece of legislation will affect, and...

In this paper we demonstrate that legislation has a simple, yet previously undetected impact on firm stock prices. While it is understood that the government and firms have an important relationship, it remains difficult to determine which firms any given piece of legislation will affect, and...

Dieses Papier analysiert die kurzfristigen Aktienkursreaktionen auf den Ausgang von 91 nationalen Parlamentswahlen innerhalb der EU. Die Bedeutung verschiedener unternehmensspezifischer Merkmale für die Kursreaktion hängt mitunter davon ab, ob die gewählten Parteien relativ proeuropäisch...