Scandinavian Working Papers in Economics

UiS Working Papers in Economics and Finance,
University of Stavanger

No 2016/12: Oslo Stock Exchange and the Weather

Bernt Arne Odegaard ()
Additional contact information
Bernt Arne Odegaard: UiS, Postal: University of Stavanger, NO-4036 Stavanger, Norway

Abstract: We investigate empirical links between the Oslo Stock Exchange (OSE) and the weather, asking whether daily returns on the market, or market trading activity, seems to be related to the weather. We find a positive correlation between the OSE and two measures of ``bad weather'': clouds and windchill. High windchill is also associated with low market liquidity.

Keywords: Weather; Stock Returns; Oslo Stock Exchange; Behavioral Finance

JEL-codes: G14

22 pages, October 30, 2016

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uis_wps_2016_12_odegaard.pdf PDF-file 

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