کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5089921 1375611 2011 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The effect of macroeconomic news on stock returns: New evidence from newspaper coverage
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
The effect of macroeconomic news on stock returns: New evidence from newspaper coverage
چکیده انگلیسی
Previous literature has produced weak evidence to support the hypothesis that real economic news affects stock returns. This is, in part, attributed to the difficulty of measuring how investors interpret macroeconomic announcements in different economic environments. In this paper, we choose a different approach of measuring macroeconomic news to better estimate its effect on stock returns. Since newspaper stories provide an interpretation of the statistical releases, we choose newspaper stories as our measure of news. Our findings indicate that news about GDP and unemployment does affect stock returns.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 35, Issue 11, November 2011, Pages 2791-2800
نویسندگان
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