کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
8954561 1646019 2018 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Study on the influence mechanism of air quality on stock market yield and Volatility: Empirical test from China based on GARCH model
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Study on the influence mechanism of air quality on stock market yield and Volatility: Empirical test from China based on GARCH model
چکیده انگلیسی
The recent haze weather in China not only influenced people's health, but also had various impacts on stock market. This paper promotes three hypotheses of influence mechanism of air quality on the stock market. National AQI (Air Quality Index) is constructed based on the distribution of shareholders and investor sentiment that is collected from online comments. GARCH model is used for empirical test. The result demonstrates that air quality and investor sentiment can separately or jointly influence stock market, while only investor sentiment can directly influence stock market volatility. Further, Air quality has tremendous impact on investor sentiment.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Finance Research Letters - Volume 26, September 2018, Pages 119-125
نویسندگان
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