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Benos, E. & Jochec, M. (2013). Patriotic name bias and stock returns. Journal of Financial Markets. 16 (3), 550-570
E. Benos and M. Jochec, "Patriotic name bias and stock returns", in Journal of Financial Markets, vol. 16, no. 3, pp. 550-570, 2013
@article{benos2013_1714726153735, author = "Benos, E. and Jochec, M.", title = "Patriotic name bias and stock returns", journal = "Journal of Financial Markets", year = "2013", volume = "16", number = "3", doi = "10.1016/j.finmar.2012.10.002", pages = "550-570", url = "http://www.sciencedirect.com/science/article/pii/S1386418112000432" }
TY - JOUR TI - Patriotic name bias and stock returns T2 - Journal of Financial Markets VL - 16 IS - 3 AU - Benos, E. AU - Jochec, M. PY - 2013 SP - 550-570 SN - 1386-4181 DO - 10.1016/j.finmar.2012.10.002 UR - http://www.sciencedirect.com/science/article/pii/S1386418112000432 AB - Companies whose names contain the words "America(n)" or "USA" earn positive abnormal returns of about 6% per annum during World War II, the Korean War, and the War on Terrorism. These abnormal returns are not realized immediately upon the outbreak of each of the wars but are accumulated gradually during wartime. Given that no such effect is observed for the Vietnam War, we hypothesize that major, victorious wars arouse investors' patriotic feelings and cause them to gradually and perhaps subconsciously gravitate toward stocks whose name has a patriotic flavor. ER -