地磁活动ap指数对标普500股票市场收益的影响

IF 1.6 4区物理与天体物理 Q3 ASTRONOMY & ASTROPHYSICS Advances in Astronomy Pub Date : 2019-07-14 DOI:10.1155/2019/2748062

Lifang Peng, Ning Li, Jing-cai Pan

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引用次数: 1

摘要

具有全球影响的地磁活动是空间天气研究的重要对象，是太阳风-磁层耦合过程的重要环节。迄今为止的研究提供了强有力的证据，表明地磁活动通过影响人类健康、情绪和行为来影响股票投资决策。因此，本研究探讨地磁活动与股票市场收益的实证关系。总体而言，我们发现地磁活动对美国股市的收益产生负向影响。此外，市场流动性有效地放大了地磁活动的影响。与以往文献不一致的是，这种影响主要不是由地磁活动半年变化引起的。我们的研究有助于将地磁指数引入到地磁活动对股票市场收益影响的金融经济学研究中。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Effect of Ap-Index of Geomagnetic Activity on S&P 500 Stock Market Return

Geomagnetic activity with global influence is an essential object of space weather research and is a significant link in the section of the solar wind-magnetospheric coupling process. Research so far provides strong evidence that geomagnetic activity affects stock investment decisions by influencing human health, mood, and human behaviours. Therefore, this research investigates the empirical association between geomagnetic activity and stock market return. Overall, we find that geomagnetic activity exerts a negative influence on the return of the US stock market. Further, market liquidity effectively magnifies the effect of geomagnetic activity. Inconsistent with previous literature, this effect is not mainly caused by the semiannual variation of geomagnetic activity. Our research contributes to the introduction of geomagnetic indices to financial economics studies on the impact of geomagnetic activity influence on stock market return.

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来源期刊

Advances in Astronomy ASTRONOMY & ASTROPHYSICS-

CiteScore

2.70

自引率

7.10%

发文量

审稿时长

22 weeks

期刊介绍： Advances in Astronomy publishes articles in all areas of astronomy, astrophysics, and cosmology. The journal accepts both observational and theoretical investigations into celestial objects and the wider universe, as well as the reports of new methods and instrumentation for their study.