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Physiology, Psychology, and Stock Market Performance: Evidence from Sleeplessness and Distraction in the World Cup

Title: Physiology, Psychology, and Stock Market Performance: Evidence from Sleeplessness and Distraction in the World Cup

Speaker:Jinghan Cai (Assistant Professor, University of Scranton, USA)

Host:Kaiguo Zhou(Lingnan College, Sun Yat-sen University, Professor)

Date and Time: June 1, 2018 (16:10-17:40)

Location: Wang Daohan Room, Lingnan Hall

Language: Chinese + English

 

Abstract:

We explore how investors’ physiological and psychological statuses affect stock market performance. Specifically, we study the impact of one physiological factor, sleeplessness due to watching World Cup games overnight, and two psychological factors, distraction from games during trading hours and mood changes due to wins and losses of the games. We uncover significantly negative effects of sleeplessness and distraction on stock returns, and the effects are stronger for countries with better soccer game records. While we find a market decline after soccer losses as documented in existing literature, it is weakened after considering sleeplessness and distraction.

 

CV of the seminar speaker is attached.

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