Rain or Shine: Where is the Weather Effect?

By W. Goetzmann, Ning Zhu. 2005

276 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/861662c2fe7dfab7a126a9c93e5ccf5da07b3f02

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Citations in the corpus

O Sole Mio An Experimental Analysis of Weather and Risk Attitudes (2013, background): “The first one is the emerging literature documenting the impact of alternative measures of weather conditions on financial market performance, such as bid-ask spreads (Goetzmann and Zhu, 2005), the VIX (Kaplanski and Levy, 2008), and the extent of economic recessions (Chhaochharia et al., 2012).”
Do Happy People Make Optimistic Investors (2015, background): “Goetzmann and Zhu (2005) find that NYSE spreads widen on cloudy days.”
Weather, biorhythms, beliefs and stock returns—Some preliminary Irish evidence (2005, background): “Also, Goetzmann and Zhu (2003) use a database of individual investor’s trading accounts to investigate whether the weather influences the trading patterns of these investors.”
Behavioural Finance: A Review and Synthesis (2007, unknown): “Goetzmann and Zhu (2005) find suggestive evidence that this effect is not due to the trading patterns of individual investors, thus leaving open the possibility that it may arise from the moods of market makers.”
Weather, Stock Returns, and the Impact of Localized Trading Behavior (2003, background): “It is also possible, as Goetzmann and Zhu (2003) suggest, that specialists’ moods are affected by weather, leading to wider spreads and larger returns.”
Weather and intraday patterns in stock returns and trading activity (2008, background): “To control for intraday spread autocorrelation and seasonality, we follow Chordia et al. (2002) and Goetzmann and Zhu (2005) by examining the difference between the spread of the interval and the spread of the same interval on the prior trading day.”
Does the Weather Affect Stock Market Volatility (2010, background): “For example, extending the arguments by Goetzmann and Zhu (2005), if market participants tend to leave early on rainy days in order to beat the rush, then we can expect a negative impact of cloudiness on liquidity and volatility, respectively. Indeed, as Loughran and Schultz (2004) demonstrate, trad”
The Effect of Weather on Consumer Spending (2010, unknown): “For instance, research in finance suggests that the weather may affect stock returns (Saunders, 1993; Trombley, 1997; Hirshleifer and Shumway, 2003; Goetzmann and Zhu, 2005) and that this effect may be attributed to the influence that weather has on mood (Cao and Wei, 2005; Kamstra et al.”
Air pollution, behavioral bias, and the disposition effect in China (2019, background): “In Model (3), we further control for one important weather condition—sunshine—that could potentially affect the market (e.g., Saunders, 1993; Hirshleifer and Shumway, 2003; Goetzmann and Zhu, 2005).”
Weather-Induced Mood, Institutional Investors, and Stock Returns (2015, methodology): “Goetzmann and Zhu (2005) show that New York City cloud cover negatively impacts daily NYSE index returns and most of explanatory power is concentrated on days that experience the largest change in spreads in S&P 100 stocks.”
Some Like It Mild and Not Too Wet: The Influence of Weather on Subjective Well-Being (2012, unknown): “Economists have studied the effect of sunshine on stock market returns, suggesting that investors’ good mood on sunny days influences their cognitive processes and trading decisions (Saunders 1993; Hirshleifer and Shumway 2003; Dowling and Lucey 2005; Goetzmann and Zhu 2003).”