<p>One renowned and frequently researched anomaly over the last two decades is the weather effect, more precisely, the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather, and the stock market. Therefore, the aim of this paper is to explain the contradictory results in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development, and explaining how this difference behaves over time. In order to test for this, city-by-city, pooled and binary regressions are employed using data of 10 developed, and 10 emerging countries over the period 1996-2011 by using two different means of seasonal adjustment.</p>

The effect of weather on stock returns: A comparison between emerging and developed markets

Prodan, Irina

Business & Money

Anchor Academic Publishing

See the best price to sell, buy, or rent books by Prodan, Irina. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Prodan, Irina

See the best price to sell, buy, or rent books by Prodan, Irina. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The effect of weather on stock returns: A comparison between emerging and developed markets