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Good Day Sunshine: Stock Returns and Weather, Evidence from Pakistan Stock Exchange (PSX)

Haroon Iqbal, Dr. Muhammad Mudasar Ghafoor, Tabassum Riaz, Adeel Nasir

Abstract


This research paper study the impact of weather based shocks on PSE100 Index by using event study methodology. By using the data of PSE100 Index from Jan 2013 to July 2016 on daily bases, this paper concluded that sunshine and clouds is insignificant to the returns of PSE100 index and rain has significant impact to PSE market returns .This study describes by controlling the impact of rain on mood investor make rational decision making. 


Keywords


Sunshine Hours, Clouds, Rain, Pakistan Stock Returns

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References


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