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Finance and politics: does the stock market prefer the Left?
[Finance et politique : la bourse préfère-t-elle la gauche ?]

Author

Listed:
  • Gérard Charreaux

    (CREGO - Centre de Recherche en Gestion des Organisations (EA 7317) - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

Abstract

In the United States, stock market performance seems to be significantly higher when the Democrats are in power. Although tests are rarer, it seems that such a partisan premium also exists in France under the Left. The objective of this article is to verify whether the existence of such a premium is confirmed over the period 1981-2016 when the method used allows neutralizing the impact of the international conjuncture. The point of view is that of a US investor who manages an internationally diversified portfolio. The results confirm the existence of a partisan premium in favour of the Left.

Suggested Citation

  • Gérard Charreaux, 2017. "Finance and politics: does the stock market prefer the Left? [Finance et politique : la bourse préfère-t-elle la gauche ?]," Post-Print hal-01543225, HAL.
    • Handle: RePEc:hal:journl:hal-01543225
    DOI: 10.3917/ecofi.125.0263
    as

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