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Psychological oil price barrier and firm returns

Narayan,PK and Narayan,S 2014, Psychological oil price barrier and firm returns, Journal of behavioral finance, vol. 15, no. 4, pp. 318-333, doi: 10.1080/15427560.2014.968719.

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Title Psychological oil price barrier and firm returns
Author(s) Narayan,PKORCID iD for Narayan,PK orcid.org/0000-0001-7934-8146
Narayan,S
Journal name Journal of behavioral finance
Volume number 15
Issue number 4
Start page 318
End page 333
Total pages 17
Publisher Taylor & Francis
Place of publication London, Eng.
Publication date 2014-12-02
ISSN 1542-7560
1542-7579
Keyword(s) Firm returns
Oil price
Psychological barrier
Social Sciences
Business, Finance
Economics
Business & Economics
FINANCIAL-MARKETS
STOCK MARKETS
COMMON-STOCKS
REAL ACTIVITY
INFLATION
INVESTMENT
ANOMALIES
HETEROGENEITY
ACQUISITIONS
INFORMATION
Summary In this paper, we investigate the psychological barrier effect induced by the oil price on firm returns when the oil price reaches US$100 or more per barrel. We find evidence of the negative effect of the US$100 oil price barrier for: (a) the entire sample of 1559 firms listed on the American stock exchanges; (b) both foreign and domestic firms, with domestic firms significantly more affected; (c) the 10 different sizes of firms, with the smaller firms less affected compared to the larger firms; and (d) 17 sectors of firms, with firms in the utilities, mining, and administration sectors being the least affected.
Language eng
DOI 10.1080/15427560.2014.968719
Field of Research 150202 Financial Econometrics
Socio Economic Objective 910204 Industry Costs and Structure
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2014, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30070375

Document type: Journal Article
Collections: Faculty of Business and Law
School of Economics
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Citation counts: TR Web of Science Citation Count  Cited 28 times in TR Web of Science
Scopus Citation Count Cited 29 times in Scopus Google Scholar Search Google Scholar
Access Statistics: 510 Abstract Views, 2 File Downloads  -  Detailed Statistics
Created: Thu, 16 Apr 2015, 13:33:07 EST

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