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020 ▼a 9781085620871
035 ▼a (MiAaPQ)AAI13863746
040 ▼a MiAaPQ ▼c MiAaPQ ▼d 247004
0820 ▼a 320
1001 ▼a Hoyos Suarez, Alejandro.
24510 ▼a Clientele Political Ideology and Asset Prices.
260 ▼a [S.l.]: ▼b The University of Chicago., ▼c 2019.
260 1 ▼a Ann Arbor: ▼b ProQuest Dissertations & Theses, ▼c 2019.
300 ▼a 81 p.
500 ▼a Source: Dissertations Abstracts International, Volume: 81-03, Section: A.
500 ▼a Advisor: Veronesi, Pietro.
5021 ▼a Thesis (Ph.D.)--The University of Chicago, 2019.
506 ▼a This item must not be sold to any third party vendors.
506 ▼a This item must not be added to any third party search indexes.
520 ▼a I propose a novel measure of clientele political ideology at the firm level using data from social media. Under Democratic presidencies, firms with the most liberal clientele exhibit excess stock returns that are 19.2 percentage points per year higher than under Republican presidencies. This partisan gap decreases monotonically with clientele conservatism, reaching 3.6 percentage points per year for firms with the most conservative clientele. These differences in returns around the presidential-partisan cycle do not seem to be attributable to differences in risk exposure or in volatility. The analysis around close presidential elections shows the portfolio of firms with clienteles whose beliefs are aligned more closely with those of the winning party begins to exhibit relatively higher abnormal returns in the days after the election.
590 ▼a School code: 0330.
650 4 ▼a Finance.
650 4 ▼a Web studies.
650 4 ▼a Economics.
650 4 ▼a Political science.
690 ▼a 0508
690 ▼a 0646
690 ▼a 0501
690 ▼a 0615
71020 ▼a The University of Chicago. ▼b Economics and Business.
7730 ▼t Dissertations Abstracts International ▼g 81-03A.
773 ▼t Dissertation Abstract International
790 ▼a 0330
791 ▼a Ph.D.
792 ▼a 2019
793 ▼a English
85640 ▼u http://www.riss.kr/pdu/ddodLink.do?id=T15490994 ▼n KERIS ▼z 이 자료의 원문은 한국교육학술정보원에서 제공합니다.
980 ▼a 202002 ▼f 2020
990 ▼a ***1816162
991 ▼a E-BOOK