Partisan Conflict and Stock Price

• Main Authors: HUANG, Dashan, WANG LIYAO
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2018
• 主題: Partisan conflict; Political disagreement; Political sentiment; Downside risk; Finance; Finance and Financial Management
• 在線閱讀: 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...