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Essays On How Cultural Factors Affect The Sentiment And Behavior Of Financial Market Participants, Runze Wu
Essays On How Cultural Factors Affect The Sentiment And Behavior Of Financial Market Participants, Runze Wu
Dissertations, Theses, and Capstone Projects
The aim of this dissertation is to explore how cultural factors influence the sentiment and behavior of financial market participants. This dissertation consists of three chapters that encompass sports events, cultural dimensions, institutional investors, financial analysts, and earnings announcements. Chapter 1 is the introduction, Chapter 2 to 4 are the main content, and Chapter 5 concludes.
In Chapter 2, I construct the Sports Mood Index (SMI) of 49 metropolitan areas in USA and Canada based on the performance of Big 4 professional sports teams and build the firm-level SMI based on institutional investors’ holdings as a proxy for investors’ mood. …