2015
DOI: 10.1108/mf-03-2014-0083
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Firm size and the political cycle premium

Abstract: Purpose – The purpose of this paper is to use firm-level data to examine whether the political cycle differentially relates to small vs large firms in New Zealand; a country that operates a unicameral political system has a short three-year political term and a right-of-centre stock market premium exists. Design/methodology/approach – Using firm-level data from 1972 to 2010, the authors examine monthly returns during right-of-centre Nati… Show more

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“…Their finding suggests that returns are lower under the Labour party compared to under National. The discussion on this issue was further analysed by Malone, Anderson & Peng (2015). They examined how political orientation relates to stock market returns, especially small and large firms by using the firm level data for the period 1972-2010.…”
Section: Introductionmentioning
confidence: 99%
“…Their finding suggests that returns are lower under the Labour party compared to under National. The discussion on this issue was further analysed by Malone, Anderson & Peng (2015). They examined how political orientation relates to stock market returns, especially small and large firms by using the firm level data for the period 1972-2010.…”
Section: Introductionmentioning
confidence: 99%