Political orientation of Government and Stock Market returns

Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and...

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Bibliographic Details
Main Authors: Bialkowski, J. (Author), Gottschalk, K. (Author), Wisniewski, T. (Author)
Format: Others
Published: AUT Faculty of Business, 2011-02-21T02:49:17Z.
Subjects:
Online Access:Get fulltext
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100 1 0 |a Bialkowski, J.  |e author 
700 1 0 |a Gottschalk, K.  |e author 
700 1 0 |a Wisniewski, T.  |e author 
245 0 0 |a Political orientation of Government and Stock Market returns 
260 |b AUT Faculty of Business,   |c 2011-02-21T02:49:17Z. 
500 |a 30-2006 
520 |a Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and 173 different governments reveals that there are no statistically significant differences in returns between left-wing and right-wing executives. Consequently, international investment strategies based on the political orientation of countries' leadership are likely to be futile. 
540 |a OpenAccess 
650 0 4 |a Stock Market Returns 
650 0 4 |a Politics 
650 0 4 |a Presidential Puzzle 
655 7 |a Working Paper 
786 0 |n Enterprise and Innovation, 2006, 30 
856 |z Get fulltext  |u http://hdl.handle.net/10292/1141