Attention stock-market followers – have you considered whether weekend comedy-movie attendance, and investment in risky stock-market assets on the following Monday might be linked? This question has been the subject of an in-depth investigation by Gabriele M. Lepori, (formerly) Assistant Professor of Finance at Copenhagen Business School, Denmark (now at Keele Management School, UK). His paper in the May 2015 edition of the journal ‘Research in International Business and Finance’ is entitled : Positive mood and investment decisions: Evidence from comedy movie attendance in the U.S.
“[…] the main hypothesis that I propose in this study is that the wave of positive mood that stems from a wider exposure to comedy movies causes a decrease in risk-taking propensity across the population and a short-term drop in the demand for risky assets, thus adversely affecting equilibrium prices in the stock market.”
A draft copy, of the full paper, may be found here :
Also see : The Moon and the Markets