時(shí)間：11月16日（星期三）下午14:30-16:00
地點(diǎn)：騰訊會(huì)議501-724-643
報(bào)告人：西南財(cái)經(jīng)大學(xué)陳梓麟副教授
主講人簡(jiǎn)介：
陳梓麟，西南財(cái)經(jīng)大學(xué)金融學(xué)院副教授，主要研究領(lǐng)域?yàn)閷?shí)證資產(chǎn)定價(jià)、行為金融和機(jī)器學(xué)習(xí)。論文發(fā)表或接收于《Journal of Financial Economics》，《Journal of Banking and Finance》，《Journal of Economic Dynamics and Control》等國(guó)際期刊。
報(bào)告內(nèi)容簡(jiǎn)介：
We construct a monthly presidential economic approval rating (PEAR) index from 1981 to 2019, by averaging ratings on the president's handling of the economy across various national polls. In the cross-section, stocks with high betas to changes in the PEAR index significantly underperform those with low betas by 1.00% per month in the future, on a risk-adjusted basis. The low PEAR beta premium persists up to one year, and is present in various sub-samples and even in other G7 countries. PEAR beta dynamically reveals a firm's perceived alignment to the incumbent president's economic policies and investors seem to misprice such an alignment.
（承辦：會(huì)計(jì)系、科研與學(xué)術(shù)交流中心）
