Weather-Induced Moods and Stock-Return Autocorrelation

Anya Khanthavit

doi:10.2478/zireb-2020-0002

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Weather-Induced Moods and Stock-Return Autocorrelation

Zagreb International Review of Economics and Business

Volume 23 (2020): Issue 1 (May 2020)

By: Anya Khanthavit

Open Access

|Jun 2020

Abstract

Moods affect investors’ attention, memory, and capacity to process information. Inattentive investors delay the price adjustment process, thus leading to a positive autocorrelation of asset returns. In this study, I investigate the relationship between weather-induced moods and stock-return autocorrelation in the Stock Exchange of Thailand from January 2, 1991, to December 29, 2017. Only good moods contribute significantly to return autocorrelation.

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Articles in this issue

DOI: https://doi.org/10.2478/zireb-2020-0002 | Journal eISSN: 1849-1162 | Journal ISSN: 1331-5609

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Language: English

Page range: 19 - 33

Published on: Jun 8, 2020

Published by: University of Zagreb, Faculty of Economics & Business

In partnership with: Paradigm Publishing Services

Publication frequency: 2 issues per year

Keywords:

information processing,

moods,

limited attention,

return autocorrelation,

weather effects

Related subjects:

Business and economics,

Political economics,

Macroeconomics,

Public finance and fiscal theory,

Business management,

Marketing, sales, customer relations,

Management, organization, corporate governance

© 2020 Anya Khanthavit, published by University of Zagreb, Faculty of Economics & Business
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Volume 23 (2020): Issue 1 (May 2020)