Music sentiment and stock returns around the world

Edmans, Alex; Fernández-Pérez, Adrián; Garel, Alexandre; Indriawan, Ivan

doi:10.1016/j.jfineco.2021.08.014

Cited by 51 publications

(20 citation statements)

References 51 publications

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“…The results showed that the employment rate has a positive association with stock trading. These results are in line with the study of Edmans, Fernandez-Perez, Garel, and Indriawan (2022), which highlights that the increase in the employment rate enhances the work level in business organizations, and the business progress takes the stock values upwards and raises demand for them. These results also agree with the article of Narayan, Phan, and Liu (2021), which also reveals that the increase in the employment rate sets economic and financial stability within the country.…”

Section: Discussionsupporting

confidence: 90%

The Role of Financial Credits, Financial Deposits and Economic Factors on the Stock Trading of ASEAN Countries

Hussain

Younus

Rehman

et al. 2022

Pak. J. Humanit. Soc. Sci

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Recently, financial and economic conditions have been affected due to the environmental uncertainty that increased the stock price fluctuation. This aspect requires recent studies and experience regulators’ emphasis. Hence, the current research examines the impact of financial credits, financial deposits, and economic factors such as economic growth (EG), industrialization and employment rate on the stock trading in ASEAN countries. The researchers extracted the secondary data from the World Development Indicators (WDI) database from 2009 to 2020. The research also checks the connection among understudy constructs using the Methods of the Moments-Quantile-Regression (MMQR) approach. The outcomes revealed that the financial credits, financial deposits EG, industrialization, and employment rate have a positive linkage with stock trading in ASEAN countries. The research provides guidelines to the regulators in making regulations related to improving stock trading using understudy effective financial and economic factors.

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Section: Discussionsupporting

confidence: 90%

The Role of Financial Credits, Financial Deposits and Economic Factors on the Stock Trading of ASEAN Countries

Hussain

Younus

Rehman

et al. 2022

Pak. J. Humanit. Soc. Sci

View full text Add to dashboard Cite

show abstract

“…Research motivated by such concepts includes, for example, a recent series of empirical studies in behavioral finance that has investigated the relationship between measures of national mood and stock market performance (e.g. Edmans, Fernandez-Perez, Garel, & Indriawan, 2021). Edmans et al (2021) use the sentiment of songs that people listen to on online music sites as a proxy measure for national mood.…”

Section: Introductionmentioning

confidence: 99%

“…Edmans, Fernandez-Perez, Garel, & Indriawan, 2021). Edmans et al (2021) use the sentiment of songs that people listen to on online music sites as a proxy measure for national mood. Related studies have also examined the association between stock market behavior and mood-affecting events, such as aviation disasters, weather, and outcomes of sporting events.…”

Section: Introductionmentioning

confidence: 99%

Evaluating a Field Theory of Consciousness and Social Change: Group Practice of Transcendental Meditation and Homicide Trends

Cavanaugh¹,

Dillbeck²,

Orme-Johnson³

2022

SASS

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This study outlines and empirically tests a field-theoretic view of consciousness and positive social change based on the ancient Vedic tradition of knowledge from India (Veda means “knowledge” in Sanskrit) as brought to light by the Vedic scholar and scientist of consciousness, Maharishi Mahesh Yogi. In contrast to most contemporary theories of mind and consciousness originating in the West, Maharishi’s Vedic science of consciousness posits the existence of an interpersonal, nonlocalized dimension of consciousness that underlies both individual consciousness and the “collective consciousness” of society, or “national consciousness.” We review previous empirical tests in Cambodia, India, the Philippines (and other countries) of hypotheses derived from this field-theoretic view of consciousness. We then present new empirical results, which together with prior research, provide evidence for an interpersonal dimension to consciousness. Segmented-trend regression analysis of data from a prospective, 15-year U.S. national social experiment found support for the hypothesis that “field effects of consciousness” created by group practice of Transcendental Meditation® and its advanced technique, the TM-Sidhi® program, by a theoretically predicted number of participants contributed to a reduction in social stress in national consciousness as indicated by improved monthly homicide trends during the study’s experimental period 2007-2011 (p < .0001). These results are consistent with significant reductions in crime and violence associated with group practice of the TM® and TM-Sidhi® program as reported in previous peer-reviewed research. This reduction was followed by a predicted subsequent increase in homicide trends 2012-2016 (p < .0001) after the group fell below the required size (approximately the √1% of the U.S. population).

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“…Our analysis suggests that seasonal variations of A-shares stock prices in China are, if not all, partly explained by mood beta. Recent studies related to sentiment uses innovative approach such as music and photo sentiments in the US and other international markets Edmans et al, 2021;Fernandez-Perez et al, 2020;Obaid & Pukthuanthong, 2021). The connection between these mood indicators and stock mispricing in the Chinese stock market is uncertain.…”

Section: Discussionmentioning

confidence: 99%

Mood Beta, Sentiment and Stock Returns in China

2022

SAGE Open

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We examine the cross-sectional seasonality of stock excess returns in China. We find that stocks’ historical excess returns are positively related to their future excess returns under a congruent-mood period and negatively associated with their future excess returns under a noncongruent-mood period. Besides, stocks with larger mood beta tend to outperform during mood periods, and this impact is still significant after differentiating companies. Moreover, consistent with our hypotheses, mood beta has stronger explanatory power after China’s unique Split-Share Structure Reform and RMB Exchange Rate Reform. Finally, mood beta has stronger explanatory power compared to sentiment beta during ascending and descending mood months.

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Music sentiment and stock returns around the world

Cited by 51 publications

References 51 publications

The Role of Financial Credits, Financial Deposits and Economic Factors on the Stock Trading of ASEAN Countries

The Role of Financial Credits, Financial Deposits and Economic Factors on the Stock Trading of ASEAN Countries

Evaluating a Field Theory of Consciousness and Social Change: Group Practice of Transcendental Meditation and Homicide Trends

Mood Beta, Sentiment and Stock Returns in China

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