唐纳德·特朗普的推文对欧洲股市波动的影响

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-11-26 DOI:10.1016/j.frl.2024.106491

Yusaku Nishimura , Bianxia Sun

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引用次数: 0

摘要

本研究调查了唐纳德·j·特朗普的政治新闻是否会影响欧洲股市。我们使用已实现波动率和HAR-RV模型来检验特朗普在其最后一个总统任期内的推文对德国、法国和英国股市波动的影响。结果表明，特朗普的推文对欧洲股市的波动产生了积极影响，随着对他推文的关注增加，这些影响也在增加。对英国股市的影响相对较弱。实证结果表明，特朗普的推文影响了美国以外的全球股市。

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Impacts of Donald Trump's tweets on volatilities in the European stock markets

This study investigates whether political news from Donald J. Trump affects European stock markets. We use realized volatility and the HAR-RV model to examine the effect of Trump's tweets on the stock market volatility in Germany, France, and the UK during his last presidential term. Results indicate that Trump's tweets positively impact volatilities in European stock markets, with these impacts increasing as attention to his tweets rises. The effect on the UK stock market is relatively weaker. The empirical results indicate that Trump's tweets influence global stock markets beyond the US.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance