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We examine whether consumer confidence - as a proxy for individual investor sentiment - affects expected stock returns internationally in 18 industrialized countries. In line with recent evidence for the U.S., we find that sentiment negatively forecasts aggregate stock market returns on average...
Persistent link: https://www.econbiz.de/10010264951
We examine whether consumer confidence - as a proxy for individual investor sentiment - affects expected stock returns internationally in 18 industrialized countries. In line with recent evidence for the U.S., we find that sentiment negatively forecasts aggregate stock market returns on average...
Persistent link: https://www.econbiz.de/10005464759
Persistent link: https://www.econbiz.de/10012203013
The systematic risk is considered as one of the most important factors that influence the investment in financial assets. Usually, it is evaluated in the framework of the Capital Asset Price Model. The systematic risk associated to firm equities is affected by some firm’s characteristics,...
Persistent link: https://www.econbiz.de/10011260415
The issuance of the European Union Regulation (EC) 1606/2002 and the 2007 adoption of the Markets and Financial Instruments Directive in Romania determined us to sett the goal of the present study at investigating the impact of public information disclosure on market values in the case of the...
Persistent link: https://www.econbiz.de/10008753068
Persistent link: https://www.econbiz.de/10010850018
This paper investigates the existence of the monthly effects on the Romanian Stock Exchange. We employ the returns of the main indices and the trading volume and the trading values from the main components of the Bucharest Stock Exchange. We find different forms of monthly seasonality...
Persistent link: https://www.econbiz.de/10011113085
), we examine the impact of exposure to excessive noise levels on birth outcomes. Using birth records that include mothers … mothers living near the airport in the direction of the runway. We utilize exogenous variation in noise exposure triggered by … NextGen, which unintentionally increased noise in communities affected by the new flight patterns. Our finding informs policy …
Persistent link: https://www.econbiz.de/10012110475
levels. The outline of the paper is as follows. First, we combine a set of noise and air pollutants measured at a number of …
Persistent link: https://www.econbiz.de/10011553481
We use a public referendum on a new air traffic concept in Berlin, Germany as a natural experiment to analyze how the interaction of tenure and capitalization effects shapes the outcome of direct democracy processes. We distinguish between homevoters, i.e., voters who are homeowners, and...
Persistent link: https://www.econbiz.de/10009764375