对天气引发的情绪和股市行为进行日内分析

IF 2.9 3区经济学 Q1 ECONOMICS

Quarterly Review of Economics and Finance Pub Date : 2024-10-01 DOI:10.1016/j.qref.2024.101929

Sangik Seok , Hoon Cho , Doojin Ryu

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引用次数: 0

摘要

我们研究了韩国股票市场天气状况与投资者情绪之间的盘中关系。通过揭示天气引发的情绪在影响市场变量中的中介作用，我们提出了天气条件、情绪和市场动态之间的潜在联系。高温、潮湿和云层对投资者的情绪有负面影响，而大风和日照时间长则有正面影响。虽然只有云层覆盖对股票回报率有轻微影响，但天气因素对市场成交量、波动性和流动性有显著影响，尤其是当它们改变情绪动态时。

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Intraday analyses on weather-induced sentiment and stock market behavior

We examine the intraday relationship between weather conditions and investor sentiment in the Korean equity market. By uncovering the intermediary role of weather-induced sentiment in affecting market variables, we suggest a potential link between weather conditions, sentiment, and market dynamics. High temperatures, humidity, and cloud coverage negatively affect investors’ moods, while strong winds and long sunshine durations have a positive impact. Although only cloud coverage marginally impacts stock returns, weather factors significantly affect market turnover, volatility, and illiquidity, especially when they alter sentiment dynamics.

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来源期刊

Quarterly Review of Economics and Finance ECONOMICS-

CiteScore

6.00

自引率

2.90%

发文量

118

期刊介绍： The Quarterly Review of Economics and Finance (QREF) attracts and publishes high quality manuscripts that cover topics in the areas of economics, financial economics and finance. The subject matter may be theoretical, empirical or policy related. Emphasis is placed on quality, originality, clear arguments, persuasive evidence, intelligent analysis and clear writing. At least one Special Issue is published per year. These issues have guest editors, are devoted to a single theme and the papers have well known authors. In addition we pride ourselves in being able to provide three to four article "Focus" sections in most of our issues.