Does the stock market influence investor everyday decisions? The case of parking violations

Antonios Siganos

International Review of Financial Analysis, 2022, vol. 82, issue C

Abstract: We explore in this study whether stock market returns influence investor decisions in their everyday life. We find that past and contemporaneous US stock market returns are related negatively to the registered number of parking violations in New York City between 2014 and 2020. We support as the channel of this relationship the level of investor anxiety. These results support extensions of the utility theory demonstrating the significance of emotions on individuals' decisions. Overall, this study shows evidence of the societal impact of finance.

Keywords: Societal impact; Utility theory; Stock market returns; Parking violations (search for similar items in EconPapers)
JEL-codes: D9 G4 L9 R4 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:82:y:2022:i:c:s1057521922001284

DOI: 10.1016/j.irfa.2022.102164

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