کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
973468 | 1479810 | 2006 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
International evidence on the Democrat premium and the presidential cycle effect
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
In this paper, we provide further empirical evidence on the relationship between political cycles and stock returns. While previous empirical results on the Democrat premium and the presidential cycle effect are limited to the U.S., we investigate both anomalies using an international dataset covering 15 countries. The database allows us to apply a panel framework, in addition to an empirical analysis of the individual countries. Our results show that the Democrat premium and the presidential cycle effect are not strikingly pervasive global phenomena. This finding is robust and valid after controlling for business-cycle conditions. The panel regressions do not support either of the two anomalies.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The North American Journal of Economics and Finance - Volume 17, Issue 2, August 2006, Pages 107–120
Journal: The North American Journal of Economics and Finance - Volume 17, Issue 2, August 2006, Pages 107–120
نویسندگان
Martin T. Bohl, Katrin Gottschalk,