Partisan Conflict and Stock Price

• المؤلفون الرئيسيون: HUANG, Dashan, WANG LIYAO
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2018
• الموضوعات: Partisan conflict; Political disagreement; Political sentiment; Downside risk; Finance; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/6012; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7011/viewcontent/SSRN_id3221659__1_.pdf

Partisan conflict has been one dominant theme in U.S. politics in recent years. By using the textual index of Azzimonti (2018), this paper shows that partisan conflict positively predicts market returns, controlling for economic predictors and proxies for uncertainty, disagreement, geopolitical risk...