Finance et politique: la bourse préfère-t-elle la gauche ?

Gerard Charreaux

Revue d'économie financière, 2017, vol. N° 125, issue 1, 263-278

Abstract: In the United States, stock market performance seems to be significantly higher when the Democrats are in power. Although tests are rarer, it seems that such a partisan premium also exists in France under the Left. The objective of this article is to verify whether the existence of such a premium is confirmed over the period 1981-2016 when the method used allows neutralizing the impact of the international conjuncture. The point of view is that of a US investor who manages an internationally diversified portfolio. The results confirm the existence of a partisan premium in favour of the Left. Classification JEL: E44, G11, G12, G15.

JEL-codes: E44 G11 G12 G15 (search for similar items in EconPapers)
Date: 2017
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