Journal ArticleDOI
Cricket and the capital market: Winning does not matter but losing hurts
TLDR
In this paper, the authors provide evidence from one-day cricket international (ODI) matches played by India that there is a significant negative impact on the daily stock market returns when the national team loses.Abstract:
There is increasing evidence of the inadequacy of ‘rational’ explanations of asset pricing. It has been established empirically that mood, induced by such natural phenomena as lunar phases or sunshine, affects asset prices. This paper provides evidence from one‐day cricket international (ODI) matches played by India that there is a significant negative impact on the daily stock market returns when the national team loses. Empirically, losing in India matters somewhat more than losing outside. The mood induced by losing a match appears conditioned by history, in that losing to nations that represent the ‘colonizers’ matters but losing to nations that share India's experience of being ‘colonized’ does not.read more
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Journal ArticleDOI
Investor Psychology and Asset Pricing
TL;DR: In this paper, the authors present a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models.
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Happy and Sad TV Programs: How They Affect Reactions to Commercials
TL;DR: This article found that a happy TV program induced a happier mood as viewers watched both program and commercials, with greater perceived commercial effectiveness, more affectively positive cognitive responses, and to some extent, better recall.
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High Stock Returns before Holidays: Existence and Evidence on Possible Causes
TL;DR: In this article, an empirical regularity in the pattern of daily stock index returns surrounding holidays was examined, showing that stocks advance with disproportionate frequency and show high mean returns averaging nine to fourteen times the mean return for the remaining days of the year.
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Selectivity of learning caused by affective states.
TL;DR: In this article, the authors investigated how emotional states influence learning and memory and found that people's remembering of a text varies with their emotional mood at the time they read or recall a text, a theoretical framework is proposed that represents an emotion as a unit within a semantic network that encodes memories.