Weather Effects in Transition
This paper tests whether weather affects stock returns in the transition countries of Central and Eastern Europe and the CIS. In these countries, reliable information about the fundamentals of stocks is scarce, and hence the ‘mood’ of investors is more likely to play an important role in investment decisions. Nevertheless, our results suggest that there is little evidence of a systematic effect of weather variables on stock markets in these countries.
|Date of creation:||Dec 2010|
|Date of revision:|
|Note:||Submitted to Emerging Markets Review|
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