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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/36166
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dc.contributor.authorGavriilidis, Konstantinosen_UK
dc.contributor.authorKallinterakis, Vasileiosen_UK
dc.contributor.authorMontone, Maurizioen_UK
dc.date.accessioned2024-08-06T00:05:54Z-
dc.date.available2024-08-06T00:05:54Z-
dc.identifier.urihttp://hdl.handle.net/1893/36166-
dc.description.abstractPolitical uncertainty represents a key determinant of corporate investment decisions. In this paper, we study the relation between political uncertainty and investment from the perspective of institutional investors. Using U.S. equity holdings data from 13F filings, we find that institutional investors herd during politically uncertain times. This trading behavior is stronger when U.S. presidents are unpopular, due to their proclivity for controversial policies, and among riskier stocks. We also find that this mechanism, despite generating some excess trading, helps incorporate a risk premium into stock prices. Overall, the findings unveil a new channel through which political uncertainty affects financial marketsen_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationGavriilidis K, Kallinterakis V & Montone M (2024) Political Uncertainty and Institutional Herding. <i>Journal of Corporate Finance</i>.en_UK
dc.rightsThis item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. This is a post-peer-review, pre-copyedit version of an article published in Journal of Corporate Finance. The final authenticated version will be available online at: https://www.sciencedirect.com/journal/journal-of-corporate-financeen_UK
dc.rights.urihttps://storre.stir.ac.uk/STORREEndUserLicence.pdfen_UK
dc.subjectHerdingen_UK
dc.subjectInstitutional investorsen_UK
dc.subjectPolitical uncertaintyen_UK
dc.subjectPresidential popularityen_UK
dc.subjectStock returnsen_UK
dc.titlePolitical Uncertainty and Institutional Herdingen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate2028-07-09en_UK
dc.rights.embargoreason[GKM_JCF.pdf] Publisher requires embargo of 24 months after publication.en_UK
dc.citation.jtitleJournal of Corporate Financeen_UK
dc.citation.issn1872-6313en_UK
dc.citation.issn0929-1199en_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emailkonstantinos.gavriilidis@stir.ac.uken_UK
dc.description.notesOutput Status: Forthcomingen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationDurham Universityen_UK
dc.contributor.affiliationUtrecht Universityen_UK
dc.identifier.wtid2025777en_UK
dc.contributor.orcid0000-0001-9935-5431en_UK
dc.date.accepted2024-07-09en_UK
dcterms.dateAccepted2024-07-09en_UK
dc.date.filedepositdate2024-07-10en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorGavriilidis, Konstantinos|0000-0001-9935-5431en_UK
local.rioxx.authorKallinterakis, Vasileios|en_UK
local.rioxx.authorMontone, Maurizio|en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2028-07-09en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||2028-07-08en_UK
local.rioxx.licencehttps://storre.stir.ac.uk/STORREEndUserLicence.pdf|2028-07-09|en_UK
local.rioxx.filenameGKM_JCF.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source1872-6313en_UK
Appears in Collections:Accounting and Finance Journal Articles

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