EconPapers    
Economics at your fingertips  
 

Interest Group Activity and Long-Run Stock Market Performance

Bonnie Wilson and Dennis Coates

Working Papers from Saint Louis University, Department of Economics

Abstract: This paper provides evidence that interest group activity is negatively related to aggregate stock market performance. In particular, the ¯ndings imply that a one percent increase in the number of interest groups in a country is associated with a reduction in average annual stock market returns of roughly 2-5%, and a reduction in the volatility of annual stock returns of roughly 6-14%. In addition, the ¯ndings indicate that many of the same fundamentals that drive economic growth also explain stock market performance.

Keywords: special interest groups; institutional sclerosis; stock returns; volatility (search for similar items in EconPapers)
JEL-codes: D7 G1 G2 L5 O16 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2007-04
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.slu-econ-wp.com/RePEc/slu/bonnie_wilson/stock_market.pdf Revised version, 2007
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.slu-econ-wp.com:80 (No such host is known. )

Related works:
Journal Article: Interest group activity and long-run stock market performance (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:slu:wpaper:2007-02

Access Statistics for this paper

More papers in Working Papers from Saint Louis University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Bonnie Wilson (wilsonbe@slu.edu).

 
Page updated 2025-03-20
Handle: RePEc:slu:wpaper:2007-02