Presidential economic approval rating and the cross-section of stock returns
We construct a monthly presidential economic approval rating (PEAR) index from 1981 to 2019, by averaging ratings on the president’s handling of the economy across various national polls. In the cross-section, stocks with high betas to changes in the PEAR index significantly under-perform those with...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2023
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7104 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8103/viewcontent/PEAR_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |