文章基本信息

标题：Climate Change and Stock Market Returns in Selected Asean Countries
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作者：Husnizam Hosin ; Mohamad Zaim Isamail
期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2022
卷号：12
期号：1
页码：421-436
DOI：10.6007/IJARBSS/v12-i1/11857
语种：English
出版社：Human Resource Management Academic Research Society
摘要：Rational investors will make a decision based on making choices that result in the optimal level of benefits or utility for an individual. The assumption of rational investor may be deemed rational as long as it can be logically explained. When the climate change are too extreme, it can affect the investor behaviour in decision making. The objective of this study is to examine the relationship between climate change variables and stock market returns in selected ASEAN countries spanning from 2004 to 2016 using Ordinary Least Square (OLS). The major weather factors studied include temperature and rainfall. Our empirical evidence suggested that temperature and rainfall are found to have no effect on stock returns in selected ASEAN countries. For further research, more weather variables can be added into the equation such as humidity and cloud cover. With these additional indicators, we can conclude both humidity and cloud cover can affect investors’ behavior hence impact stock returns in selected ASEAN countries. The findings are helpful to financial managers, investors and traders dealing with the ASEAN stock market.