The relatively high average returns on stocks are understood to be partly a function of the risk taken on by investors when investing in stocks. One source of this risk is the uncertainty regarding future government policy. This uncertainty, though, is not constant across time; it is greatest around elections, when new policies are unknown and the impact of the policies will be relatively immediate. As uncertainty resolves following the election, risk premia should decrease & prices should rise. Thus, investors who buy stocks during this period of uncertainty should be compensated with higher average returns in the months following the election. I test this hypothesis empirically, using United States election data from 1927-2015. Since poli...
The purpose of this paper is to analyze the United States presidential elections and their effect on...
Recently political uncertainty has shown how vital a role it plays in the financial markets and why ...
We find that the average excess return in the stock market is higher under Democratic than Republica...
There is bountiful evidence that political uncertainty stemming from presidential elections or doubt...
There is substantial evidence on the influence of political outcomes on the business cycle and stock...
Thesis (Ph. D.)--University of Rochester. William E. Simon Graduate School of Business Administratio...
I show that shares currently traded on U.S. stock markets can be used to hedge political uncertainty...
The aim of this paper is to investigate the sensitivity of stock markets to election uncertainty and...
Uncertainty about the economy can increase volatility in financial market returns. One potential sou...
This paper investigates a sample of 27 OECD countries to test whether national elections induce high...
We examine the relationship between election uncertainty, economic policy uncertainty, and financial...
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge...
Markets and politics are intimately linked. Moreover, the extensive lobbying practices in the US evi...
This paper investigates a sample of 27 OECD countries to test whether national elections induce high...
The paper provides evidence for the existence of a midterm election effect on the US equity market. ...
The purpose of this paper is to analyze the United States presidential elections and their effect on...
Recently political uncertainty has shown how vital a role it plays in the financial markets and why ...
We find that the average excess return in the stock market is higher under Democratic than Republica...
There is bountiful evidence that political uncertainty stemming from presidential elections or doubt...
There is substantial evidence on the influence of political outcomes on the business cycle and stock...
Thesis (Ph. D.)--University of Rochester. William E. Simon Graduate School of Business Administratio...
I show that shares currently traded on U.S. stock markets can be used to hedge political uncertainty...
The aim of this paper is to investigate the sensitivity of stock markets to election uncertainty and...
Uncertainty about the economy can increase volatility in financial market returns. One potential sou...
This paper investigates a sample of 27 OECD countries to test whether national elections induce high...
We examine the relationship between election uncertainty, economic policy uncertainty, and financial...
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge...
Markets and politics are intimately linked. Moreover, the extensive lobbying practices in the US evi...
This paper investigates a sample of 27 OECD countries to test whether national elections induce high...
The paper provides evidence for the existence of a midterm election effect on the US equity market. ...
The purpose of this paper is to analyze the United States presidential elections and their effect on...
Recently political uncertainty has shown how vital a role it plays in the financial markets and why ...
We find that the average excess return in the stock market is higher under Democratic than Republica...