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A new look at the meeting clustering effect
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| dc.contributor.author | Pardo Tornero, Ángel | |
| dc.contributor.author | Santandreu, Eddie | |
| dc.date.accessioned | 2022-05-19T16:47:15Z | |
| dc.date.available | 2022-05-19T16:47:15Z | |
| dc.date.issued | 2023 | |
| dc.identifier.citation | Pardo Tornero, Ángel Santandreu, Eddie 2023 A new look at the meeting clustering effect. Review of Behavioral Finance, 15, 2, 162-175 pp. | |
| dc.identifier.uri | https://hdl.handle.net/10550/82896 | |
| dc.description.abstract | Purpose - The study aims to test the existence of a meeting clustering effect in the Spanish StockExchange (SSE). Design/methodology/approach - This paper studies the relationship between the clustering of annual general meetings and stock returns in the SSE. A multivariate analysis is carried out in order to analyse the relationship between monthly returns and the clustering of general meetings in the SSE. Findings - The authors show that meeting clustering exists and that some months exhibit significant and positive additional returns related to the holding of ordinary or extraordinary general meetings. Research limitations/implications - The authors have explored some possible explanations for the meeting clustering effect, such as a potential link with the "Halloween" effect or the presence of higher-thannormal levels of volatility, trading volumes or investor attention. However, none of these can explain the meeting clustering effect that emerges as a new anomaly in the SSE. Practical implications - The authors have documented significant and positive abnormal returns in some months that coincide with the holding of general meetings. Therefore, the holding of ordinary and/or extraordinary meetings in some months involves the release of relevant information for investors. Originality/value - This study complements the financial literature because it is focused on the clustering ofmeetings and its effect on a stock market whose legal order is based on civil law. This fact allows us to shed new light on meeting clustering and its effect on other types of markets. | |
| dc.language.iso | eng | |
| dc.relation.ispartof | Review of Behavioral Finance, 2021 | |
| dc.subject | Dret financer | |
| dc.subject | Dret civil | |
| dc.subject | Economia de mercat | |
| dc.title | A new look at the meeting clustering effect | |
| dc.type | journal article | es_ES |
| dc.date.updated | 2022-05-19T16:47:15Z | |
| dc.identifier.doi | 10.1108/RBF-03-2021-0042 | |
| dc.identifier.idgrec | 152965 | |
| dc.rights.accessRights | open access | es_ES |
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