English, Article edition: A meta-analysis of the international evidence of cloud cover on stock returns Stephen P. Keef; Melvin L. Roush

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/31728
Physical Description
  • article
Language
  • English

Edition details

Title
  • A meta-analysis of the international evidence of cloud cover on stock returns
Author
  • Stephen P. Keef
  • Melvin L. Roush
Physical Description
  • article
Notes
  • Purpose – This paper provides a meta-analysis of the Hirshleifer and Shumway's results on the casual influence of daily cloud cover on stock index returns for 26 international stock exchanges. It aims to test whether these results are influenced by the location of the stock exchange and the development of the economy. Design/​methodology/​approach – A conventional meta-analytic procedure is used to synthesise the data. The effect size, of the influence of cloud cover on stock returns, is measured by the Fisher Z correlation coefficient. This is obtained from the t-statistic of the slope coefficient reported in the regression for each country. Two study characteristics are used to differentiate between the 26 stock exchanges. These are the latitude of the city and the per capita Gross Domestic Product of the country. Findings – The influence of cloud cover on stock returns becomes more negative as latitude increases and more negative as per capita Gross Domestic Product increases. A cloud cover effect does not exist at the equator. Practical implications – The implication is that trading rules based on cloud cover will be more profitable at higher latitudes. Originality/​value – Meta-analyses are infrequently used in the Finance literature. This paper illustrates their utility.
  • Climatic zones, Clouds, International financial institutions, Stock exchanges, Stock markets, Stock prices
  • RePEc:eme:rafpps:v:6:y:2007:i:3:p:324-338
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment