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Weather Effects in Transition

Tom Coupé and Olha Zadorozhna
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Olha Zadorozhna: Bocconi University

No 36, Discussion Papers from Kyiv School of Economics

Abstract: 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.

Keywords: weather effects; transition countries (search for similar items in EconPapers)
JEL-codes: G1 P2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tra
Date: 2010-12
Note: Submitted to Emerging Markets Review
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http://repec.kse.org.ua/pdf/KSE_dp36.pdf December 2010 (application/pdf)

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