| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP8713
|
| DP8713 Hope, Change, and Financial Markets: Can Obama's Words Drive the Market? |
| José Tavares; Sharmin Sazedj
|
| 发表日期 | 2011-12-01
|
| 出版年 | 2011
|
| 语种 | 英语
|
| 摘要 | Barack Obama?s victory in the 2009 presidential elections in the United States is widely credited to his personal charisma and his extraordinary rhetorical powers, as revealed throughout the campaign. President Obama was inaugurated in the midst of the worst economic crisis in the country, when individuals and organizations yearned for leadership and signs of change. We code an array of rhetorical features in Obama´s main speeches and press conferences and assess their impact on stock returns of the Dow Jones, S&P 500, and NASDAQ indices, at 3 and 7 day time horizons. We find that words matter. Paragraphs matter, too. We also uncover how some of Obama´s rhetorical abilities that are politically effective seem to be perceived negatively by economic agents, and have a significant negative impact on stock returns. |
| 主题 | Financial Economics
; Public Economics
|
| 关键词 | Financial markets
Political economy
Speech content
Barack obama
|
| URL | https://cepr.org/publications/dp8713
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537548
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推荐引用方式
GB/T 7714 |
José Tavares,Sharmin Sazedj. DP8713 Hope, Change, and Financial Markets: Can Obama's Words Drive the Market?. 2011.
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