Temperature shocks and stock returns: evidence from major markets

被引：4

作者：

Apergis, Nicholas ^{[1
]}

机构：

[1] Univ Piraeus, Piraeus, Greece

来源：

APPLIED ECONOMICS LETTERS | 2024年 / 31卷 / 17期

关键词：

Temperature shocks; stock returns; transmission channels;

D O I：

10.1080/13504851.2023.2206611

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Global temperatures have increased at a historically unprecedented pace. The paper finds the negative impact of high temperatures on global stock prices and offers evidence on three channels that justify this impact, i.e. the effect on firms' assets, on investments, and on leverage costs. The results encourage market stakeholders to consider the role of temperature shocks in their market involvement.

引用

页码：1757 / 1765

页数：9

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