Psychological oil price barrier and firm returns
Data(s) |
02/12/2014
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Resumo |
In this paper, we investigate the psychological barrier effect induced by the oil price on firm returns when the oil price reaches US$100 or more per barrel. We find evidence of the negative effect of the US$100 oil price barrier for: (a) the entire sample of 1559 firms listed on the American stock exchanges; (b) both foreign and domestic firms, with domestic firms significantly more affected; (c) the 10 different sizes of firms, with the smaller firms less affected compared to the larger firms; and (d) 17 sectors of firms, with firms in the utilities, mining, and administration sectors being the least affected. |
Identificador | |
Idioma(s) |
eng |
Publicador |
Taylor & Francis |
Relação |
http://dro.deakin.edu.au/eserv/DU:30070375/narayan-article-2014.pdf http://www.dx.doi.org/10.1080/15427560.2014.968719 |
Direitos |
2014, Taylor & Francis |
Palavras-Chave | #Firm returns #Oil price #Psychological barrier #Social Sciences #Business, Finance #Economics #Business & Economics #FINANCIAL-MARKETS #STOCK MARKETS #COMMON-STOCKS #REAL ACTIVITY #INFLATION #INVESTMENT #ANOMALIES #HETEROGENEITY #ACQUISITIONS #INFORMATION |
Tipo |
Journal Article |