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Sunny Upside? The Relationship Between Sunshine and Stock Market Returns
16 references·1 citing·47 second hop
Sunny Upside? The Relationship Between Sunshine and Stock Market Returns (2016)Sunny Upside? The Relationship Between Su…Is it the weather? (2007)Is it the weather?Commitment vs. Flexibility (2006)Commitment vs. FlexibilityGood Day Sunshine: Stock Returns and the Weather (2003)Good Day Sunshine: Stock Retu…Good Day Sunshine: Stock Returns and the Weather (2001)Good Day Sunshine: Stock Retu…Emotions in Economic Theory and Economic Behavior (2000)Emotions in Economic Theory a…Stocks and the weather: An exercise in data mining or yet another capital market anomaly? (1997)Stocks and the weather: An ex…Stock Prices and Wall Street Weather: Additional Evidence (1997)Stock Prices and Wall Street …Out of Control: Visceral Influences on Behavior (1996)Out of Control: Visceral Infl…Suicides in California (1968–1977): Absence of seasonality in Los Angeles and Sacramento counties (1994)Suicides in California (1968–…Stock prices and the Wall Street weather (1993)Stock prices and the Wall Str…Persuasive evidence of market inefficiency (1985)Persuasive evidence of market…Stock Prices and Social Dynamics (1984)Stock Prices and Social Dynam…Affect, generalization, and the perception of risk. (1983)Affect, generalization, and t…How should economists choose (1982)How should economists chooseThe relationship between return and market value of common stocks (1981)The relationship between retu…Misspecification of capital asset pricing (1981)Misspecification of capital a…Sunshine-induced mood and SEO pricing: Evidence from detailed investor bids in SEO auctions (2023)Sunshine-induced mood and SEO…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Insiders' profits, costs of trading, and market efficiency (1986)Debt/Equity Ratio and Expected Common Stock Returns: Empirical Evidence (1988)Fundamentals and Stock Returns in Japan (1991)Asset returns and inflation (1977)Stock Returns and the Term Structure (1985)Noise (1986)Predicting returns in the stock and bond markets (1986)Expected Stock Returns and Variance Risk Premia (2009)Decision making: A psychological analysis of conflict, choice, and commitment (1978)The body in pain (1985)A Theory of Rational Addiction (1988)The Emerging Field of Emotion Regulation: An Integrative Review (1998)Time Discounting and Time Preference: A Critical Review (2002)Availability: A heuristic for judging frequency and probability (1973)Judgment under Uncertainty: Heuristics and Biases (1975)Feeling and thinking: Preferences need no inferences. (1980)Positive Affect, Cognitive Processes, and Social Behavior (1987)Effects of Fear and Anger on Perceived Risks of Terrorism (2003)Feeling validated versus being correct: A meta-analysis of selective exposure to information. (2009)Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty (1982)Investor Psychology and Asset Pricing (2001)Risk as feelings. (2001)The Adaptive Markets Hypothesis (2004)Capital Market Equilibrium with Restricted Borrowing (1972)Risk, Return, and Equilibrium: Empirical Tests (1973)A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory (1977)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Mood, misattribution, and judgments of well-being: Informative and directive functions of affective states. (1983)Mood and judgment: The affect infusion model (AIM). (1995)Ambiguity and Self-Evaluation: The Role of Idiosyncratic Trait Definitions in Self-Serving Assessments of Ability (2002)Norm Theory: Comparing Reality to Its Alternatives (2002)Financial Attention (2015)Expected stock returns and volatility (1987)Why Does Stock Market Volatility Change Over Time? (1989)Investor psychology in capital markets: evidence and policy implications (2002)Sentiment and stock prices: The case of aviation disasters (2009)The Role of Emotions in Marketing (1999)Sentiment During Recessions (2012)The Sum of All FEARS Investor Sentiment and Asset Prices (2014)Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows (2017)Editor's Choice Digesting Anomalies: An Investment ApproachFurther Evidence On Investor Overreaction and Stock Market Seasonality (1987)
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References

  • 1981The relationship between return and market value of common stocks5,928 cited
  • 1996Out of Control: Visceral Influences on Behavior2,609 cited
  • 1985Persuasive evidence of market inefficiency1,951 cited
  • 1983Affect, generalization, and the perception of risk.1,854 cited
  • 2003Good Day Sunshine: Stock Returns and the Weather1,742 cited
  • 1984Stock Prices and Social Dynamics1,615 cited
  • 2000Emotions in Economic Theory and Economic Behavior1,359 cited
  • 1981Misspecification of capital asset pricing1,286 cited
  • 1993Stock prices and the Wall Street weather831 cited
  • 2001Good Day Sunshine: Stock Returns and the Weather513 cited
  • 2006Commitment vs. Flexibility295 cited
  • 2007Is it the weather?175 cited
  • 1997Stocks and the weather: An exercise in data mining or yet another capital market anomaly?99 cited
  • 1994Suicides in California (1968–1977): Absence of seasonality in Los Angeles and Sacramento counties93 cited
  • 1997Stock Prices and Wall Street Weather: Additional Evidence88 cited
  • 1982How should economists choose

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  • 2023Sunshine-induced mood and SEO pricing: Evidence from detailed investor bids in SEO auctions18 cited