Does weather impact the stock market? Empirical evidence in Taiwan

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Please use this identifier to cite or link to this item: https://irlib.pccu.edu.tw/handle/987654321/24286

Title:	Does weather impact the stock market? Empirical evidence in Taiwan
Authors:	Wang, YH (Wang, Yi-Hsien) Lin, CT (Lin, Chin-Tsai) Lin, JD (Lin, Jung Dan)
Contributors:	Dept Banking & Finance
Keywords:	Risk Behavioral finance GJR-GARCH Mood VOLATILITY JUDGMENTS RETURNS
Date:	2012-03
Issue Date:	2013-02-22 16:22:04 (UTC+8)
Abstract:	Psychological evidence suggests close relationships between weather and mood. Individuals feel in a more positive frame of mind on sunny than cloudy days. This study applies GJR-GARCH to examine the relationship among weather, stock returns and risk in Taiwan from 2001 to 2007. The empirical results indicate that precipitation does not significantly influence stock return and risk; likewise, sunshine hours and temperature insignificantly influence stock return, but do significant impact stock risk. These findings demonstrate that weather effect really exist in stock market, and can help investors in making innovative investment and management decisions
Relation:	QUALITY & QUANTITY 卷: 46 期: 2 頁數: 695-703
Appears in Collections:	[Department of Banking & Finance ] periodical articles

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