Proceedings of the 2017 International Conference on Education, Economics and Management Research (ICEEMR 2017)

Weather Impacts on Stock Market-Evidence from Hong Kong Stock Market Between Financial Crisis

Authors
Yun Sun, Shaosong Wang
Corresponding Author
Yun Sun
Available Online May 2017.
DOI
10.2991/iceemr-17.2017.121How to use a DOI?
Keywords
Behavioural Economics, Weather, Financial Crisis, Hong Kong Stock Market
Abstract

Previous research has explored the link of weather, mood and behaviors. In particular, some studies demonstrated weather impacts on stock returns. However, most literature included the sample period of financial crisis when they link weather and stock market. In this paper, we investigate the relationship of daily cloudiness and Hong Kong stock market between two financial crises from 1999 to 2006, with 1,824 samples. We believe this is important, since individuals’ decisions are more likely to be calm to trade out of financial crisis period. Consequently, the weather impacts on stock market are more convincing if these impacts could still be found out of financial crisis period. OLS regression and logistic model are used to test the hypothesis. After controlling for January, Monday and seasonality, we find that lower cloudy cover could induce higher stock return between financial crisis period of 1997 and 2008 in Hong Kong.

Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2017 International Conference on Education, Economics and Management Research (ICEEMR 2017)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
May 2017
ISBN
978-94-6252-343-2
ISSN
2352-5398
DOI
10.2991/iceemr-17.2017.121How to use a DOI?
Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Yun Sun
AU  - Shaosong Wang
PY  - 2017/05
DA  - 2017/05
TI  - Weather Impacts on Stock Market-Evidence from Hong Kong Stock Market Between Financial Crisis
BT  - Proceedings of the 2017 International Conference on Education, Economics and Management Research (ICEEMR 2017)
PB  - Atlantis Press
SP  - 491
EP  - 494
SN  - 2352-5398
UR  - https://doi.org/10.2991/iceemr-17.2017.121
DO  - 10.2991/iceemr-17.2017.121
ID  - Sun2017/05
ER  -