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Articles 1 - 4 of 4
Full-Text Articles in Finance and Financial Management
Retail Trading And Stock Volatility: The Case Of Robinhood, Cooper Jones
Retail Trading And Stock Volatility: The Case Of Robinhood, Cooper Jones
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
We examine the relation between Robinhood usership and stock market volatility. We show that daily fluctuations in Robinhood usership, which is used to proxy retail trading, significantly influence various measures of volatility. These results might suggest that Robinhood users contribute to noise trading as they are generally individuals trading on name recognition, media coverage, popularity, and familiarity of products, rather than on fundamental values. In our empirical approach, we find that the percentage increase in Robinhood usership Granger causes increases in daily stock volatility.
Corporate Venture Capital And Its Effects On Company Valuation - An Analysis Of The Additions Of Cvc Arms, Joshua Lyman
Corporate Venture Capital And Its Effects On Company Valuation - An Analysis Of The Additions Of Cvc Arms, Joshua Lyman
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
This paper examines the stock price reaction to the addition of corporate venture capital arms to publicly traded companies. Referencing venture capital resources, corporate press release announcements of the addition of CVC arms were hand collected. I calculate the cumulative abnormal returns (CARs) surrounding press release announcement dates and find immediate stock market reactions, positively increasing stock prices compared to the overall market. I further perform placebo event studies at random dates and with direct competitors using the same announcement dates and find no significant results. These findings suggest that corporate venture capital increases company valuation and that financial markets …
The Performance Of Military Defense Contracted Companies After September 11th, 2001: The Case Of Politically Connected Companies, Derek J. Larsen
The Performance Of Military Defense Contracted Companies After September 11th, 2001: The Case Of Politically Connected Companies, Derek J. Larsen
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
This paper examines the effect that the terrorist attacks on September 11th, 2001 had on the stock prices of companies within the military defense industry. In addition, this paper studies the effect of the defense firms’ political engagement (through lobbying activities) and how this affected the stock price response to the terrorist attacks. Our study finds that the cumulative abnormal returns of these companies are positively significant and that companies who lobbied experienced higher returns relative to those who did not lobby.
Gambling With Momentum: How Gambling Cultures Shape Financial Markets, Daniel Mosman
Gambling With Momentum: How Gambling Cultures Shape Financial Markets, Daniel Mosman
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
Do people who gamble carry such preferences into their investments? This study looks at various factors which are used to identify countries with a significant gambling population, and seeks to find a relationship with those gambling tendencies and premiums associated with momentum. From historical market data from financial markets in 45 different countries I found stronger evidence of a momentum premium in those countries which have those identifying factors for gambling, than those that do not. Results of the regression analysis suggest weak evidence that it is possible that the momentum premium could be associated with gambling preferences and culture …