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Does the Weather Influence Global Stock Returns?
Dong, Ming - 2020
We hypothesize that weather's emotional effects depend on climate and season, and examine the relation between weather … month. We find strong effects of all five weather variables in 49 countries from 1973 to 2012, and all but the sunshine … effect vary across temperature regions and seasons. The systematic patterns of weather effects across climates and seasons …
Persistent link: https://www.econbiz.de/10012856673
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The effects of extreme weather conditions on Hong Kong and Shenzhen stock market returns
Jiang, Zhuhua; Kang, Sang Hoon; Cheong, Chongcheul; … - In: International Journal of Financial Studies : open … 7 (2019) 4/70, pp. 1-14
We investigate the impact of extreme weather conditions on the stock market returns of the Hong Kong Stock Exchange and … Shenzhen Exchange. For the weather conditions, we apply dummy variables generated by applying a moving average and moving … standard deviation. Our study provides two interesting results. First, extreme weather conditions have a significant impact on …
Persistent link: https://www.econbiz.de/10012150344
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Investor education and trading activity on the stock market
Liivamägi, Kristjan - In: Baltic journal of economics 16 (2016) 2, pp. 114-131
This study analyses how investors' educational characteristics affect their trading activity on the stock market. It uses a unique dataset from the Tallinn Stock Exchange, covering all transactions of a full business cycle from 2004 to 2012, along with a dataset containing the official...
Persistent link: https://www.econbiz.de/10011890896
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Liquidity shocks and stock market reactions
Bali, Turan G.; Peng, Lin; Shen, Yannan; Tang, Yi - 2013 - This draft: July 03, 2012
This paper investigates how the stock market reacts to firm level liquidity shocks. We find that negative and persistent liquidity shocks not only lead to lower contemporaneous returns, but also predict negative returns for up to six months in the future. Long-short portfolios sorted on past...
Persistent link: https://www.econbiz.de/10009703602
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Liquidity Shocks and Stock Market Reactions
Bali, Turan G. - 2013
We find that the stock market underreacts to stock level liquidity shocks: liquidity shocks are not only positively associated with contemporaneous returns, but they also predict future return continuations for up to six months. Long-short portfolios sorted on liquidity shocks generate...
Persistent link: https://www.econbiz.de/10013091046
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Liquidity Shocks and Stock Market Reactions
Bali, Turan G. - 2013
We find that the stock market underreacts to stock level liquidity shocks: liquidity shocks are not only positively associated with contemporaneous returns, but they also predict future return continuations for up to six months. Long-short portfolios sorted on liquidity shocks generate...
Persistent link: https://www.econbiz.de/10013091392
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Liquidity Shocks and Stock Market Reactions
Bali, Turan G. - 2013
We find that the stock market underreacts to stock level liquidity shocks: liquidity shocks are not only positively associated with contemporaneous returns, but they also predict future return continuations for up to six months. Long-short portfolios sorted on liquidity shocks generate...
Persistent link: https://www.econbiz.de/10013091418
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Pound Wise and Penny Foolish? OTC Stock Investor Behavior
Varma, Abhishek - 2014
We explore some commonly held beliefs about individuals investing in OTC stocks (those traded on OTCBB & Pink Sheets), a fairly pervasive activity. We frame our analysis within the context of direct gambling, aspirational preferences in behavioral portfolios, and private information. Contrary to...
Persistent link: https://www.econbiz.de/10013070376
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Trend Salience, Investor Behaviors and Momentum Profitability
Hurst, Gareth - 2019
Trend extrapolation in financial markets has been well documented, however it is contentious as to which trends will be extrapolated or mean reverted. We examine whether investors are more likely to extrapolate trends that they perceive to be salient by examining an investment strategy that...
Persistent link: https://www.econbiz.de/10012905013
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Outcomes of Investing in OTC Stocks
White, Joshua T. - 2016
This paper analyzes three aspects of over-the-counter (OTC) stocks: (1) the recent trends in the OTC stock market structure and size; (2) the documented properties of OTC stocks; and (3) the differences in returns based on investor and stock characteristics. Approximately 10,000 OTC stocks were...
Persistent link: https://www.econbiz.de/10012977093