Does the Stock Market Influence Investor Everyday Decisions? The Case of Parking Violations

Siganos, Antonios

Abstract

We explore in this study whether stock market returns influence investor decisions in their everyday life. We find that past and contemporaneous US stock market returns are related negatively to the registered number of parking violations in New York City between 2014 and 2020. We support as the channel of this relationship the level of investor anxiety. These results support extensions of the utility theory demonstrating the significance of emotions on individuals’ decisions. Overall, this study shows evidence of the societal impact of finance.

Citation

Siganos, A. (2022). Does the Stock Market Influence Investor Everyday Decisions? The Case of Parking Violations. International Review of Financial Analysis, 82, Article 102164. https://doi.org/10.1016/j.irfa.2022.102164

• Journal Article Type: Article
• Acceptance Date: Apr 15, 2022
• Online Publication Date: Apr 22, 2022
• Publication Date: 2022-07
• Deposit Date: Apr 20, 2022
• Publicly Available Date: Apr 23, 2024
• Journal: International Review of Financial Analysis
• Print ISSN: 1057-5219
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 82
• Article Number: 102164
• DOI: https://doi.org/10.1016/j.irfa.2022.102164
• Keywords: Societal Impact; Utility Theory; Stock Market Returns; Parking Violations
• Public URL: http://researchrepository.napier.ac.uk/Output/2865554