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

Siganos, Antonios



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.

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
Print ISSN 1057-5219
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 82
Article Number 102164
Keywords Societal Impact; Utility Theory; Stock Market Returns; Parking Violations
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