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Does the stock market influence investor everyday decisions? The case of parking violations

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  • Siganos, Antonios

Abstract

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.

Suggested Citation

  • Siganos, Antonios, 2022. "Does the stock market influence investor everyday decisions? The case of parking violations," International Review of Financial Analysis, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:finana:v:82:y:2022:i:c:s1057521922001284
    DOI: 10.1016/j.irfa.2022.102164
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    References listed on IDEAS

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    More about this item

    Keywords

    Societal impact; Utility theory; Stock market returns; Parking violations;
    All these keywords.

    JEL classification:

    • G4 - Financial Economics - - Behavioral Finance
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • L9 - Industrial Organization - - Industry Studies: Transportation and Utilities

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