1.

Record Nr.

UNINA9910787556603321

Autore

Prodan Irina

Titolo

The effect of weather on stock returns [[electronic resource] ] : a comparison between emerging and developed markets / / Irina Prodan

Pubbl/distr/stampa

Hamburg, : Anchor Academic Pub., 2013

ISBN

3-95489-556-0

Descrizione fisica

1 online resource (55 p.)

Collana

Compact

Disciplina

332.64

332.645

Soggetti

Stocks - Prices

Stock exchanges

Speculation

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

"Disseminate knowledge"--Cover.

Original title of the thesis: Is there a difference in the weather effect between developed and emerging markets : a comparison between around the world.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

The effect of weather on stock returns: A comparison between emerging and developed markets; Abstract; Table of contents; 1. Introduction; 2. Literature review; 2.1. Weather, mood and decision making behavior; 2.2. Weather and the stock market; 2.3. Two decades of weather effect literature: a lack of consensus; 3. Data description; 3.1. Data collection; 3.2. Data analysis; 4. Methodology and results; 4.1. City-by-city tests; 4.2. Joint tests; 4.2.1. Pooled least squares regression; 4.2.2. Binary regression; 5. Robustness check; 5.1. City-by-city tests; 5.2. Joint tests

5.2.1 Pooled least squares regression5.2.2. Binary regression; 6. Potential explanations; 7. Conclusion; 8. References; 9. Appendix

Sommario/riassunto

Hauptbeschreibung One renowned and frequently researched anomaly over the last two decades is the weather effect, more precisely, the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather, and the stock market. Therefore, the aim of this paper is to explain the contradictory results



in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development, and explaining how this diffe