Kapitálový trh, Kalendářní anomálie, Prezidentská příslušnost

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F08%3A00019269" target="_blank" >RIV/61989100:27510/08:00019269 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Prague Stock Exchange Welcomes the New President

Popis výsledku v původním jazyce

This comprehensive study examines the performance of stock market, stock market volatility, incumbent election success and the presence of a ?day of the week? effect in the Czech republic during presidential cycles. The results reveal higher stock returns and volatility during the Klaus administration. Nevertheless, the social mood theory and political policy theory fall in dispute. Prior 1-month returns (before presidential election) and prior 3-year returns (before parliamentary elecions) confirm thesocial mood theory that incumbent party candidate will win. However on the other hand, the change in the presidential administration from the Left to the Right confirm the political theory that the president is a predictor of the stock market. Finally, the pattern of the ?day of the week? effect differs between the two presidential administrations. While during the Havel administration negative Wednesday was significant, during the Klaus administration positive allweek pattern was found.

Název v anglickém jazyce

Prague Stock Exchange Welcomes the New President

Popis výsledku anglicky

This comprehensive study examines the performance of stock market, stock market volatility, incumbent election success and the presence of a ?day of the week? effect in the Czech republic during presidential cycles. The results reveal higher stock returns and volatility during the Klaus administration. Nevertheless, the social mood theory and political policy theory fall in dispute. Prior 1-month returns (before presidential election) and prior 3-year returns (before parliamentary elecions) confirm thesocial mood theory that incumbent party candidate will win. However on the other hand, the change in the presidential administration from the Left to the Right confirm the political theory that the president is a predictor of the stock market. Finally, the pattern of the ?day of the week? effect differs between the two presidential administrations. While during the Havel administration negative Wednesday was significant, during the Klaus administration positive allweek pattern was found.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2008

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Sborník konference studentů doktorského studia

ISBN

978-80-245-1359-1

ISSN

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e-ISSN

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Počet stran výsledku

12

Strana od-do

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Název nakladatele

Oeconomica

Místo vydání

Praha

Místo konání akce

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Datum konání akce

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Typ akce podle státní příslušnosti

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Kód UT WoS článku

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