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Zagreb International Review of Economics & Business, Vol. 23 No. 1, 2020.

Original scientific paper

https://doi.org/10.2478/zireb-2020-0002

Weather-Induced Moods and Stock-Return Autocorrelation

Anya Khanthavit ; Faculty of Commerce and Accountancy, Thammasat University, Bangkok, Thailand.

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Abstract

Moods affect investors’ attention, memory, and capacity to process information. Inattentive investors delay the price adjustment process, thus leading to a positive autocorrelation of asset returns. In this study, I investigate the relationship between weather-induced moods and stock-return autocorrelation in the Stock Exchange of Thailand from January 2, 1991, to December 29, 2017. Only good moods contribute significantly to return autocorrelation.

Keywords

information processing; moods; limited attention; return autocorrelation; weather effects

Hrčak ID:

238297

URI

https://hrcak.srce.hr/238297

Publication date:

27.5.2020.

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