The Transmission of U.S. Election Cycles to International Stock Returns

This paper examines the international pervasiveness and importance of the previously uncovered four-year U.S. election cycle whereby U.S. stock returns are significantly lower, and negative, in year 2 following a U.S. presidential election relative to years 1, 3 and 4. All eighteen countries examine...

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Veröffentlicht in:	Journal of international business studies 1997-01, Vol.28 (1), p.1-13
Hauptverfasser:	Foerster, Stephen R., Schmitz, John J.
Format:	Artikel
Sprache:	eng
Schlagworte:	American dollar Business and Management Business Strategy/Leadership Capital gains Currency Diversification Economic models Effects Election results Election returns Elections Expected returns Foreign exchange markets Interest rates International International Business International economics International markets Investor behavior Investors Local elections Macroeconomics Management Organization Political risk Portfolio management Presidential elections Rates of return Securities markets Standard deviation Statistical analysis Stock exchange Stock exchanges Stock market returns Stock markets Stock returns Studies U.S.A Variables
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