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The Influence of Investors’ Mood on the Stock Prices: Evidence from Energy Firms in Warsaw Stock Exchange, Poland

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  • Waldemar Tarczyński

    (Department of Sustainable Finance and Capital Markets, Institute of Economics and Finance, University of Szczecin, 71-101 Szczecin, Poland)

  • Urszula Mentel

    (Department of Projects Management and Security Policy, Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland)

  • Grzegorz Mentel

    (Department of Quantitative Methods, Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland)

  • Umer Shahzad

    (School of Statistics and Applied Mathematics, Anhui University of Finance and Economics, Bengbu 233030, China)

Abstract

The subject of this publication is an analysis of the sentiment of stock exchange investors in terms of making investment decisions in the energy sector of the Polish stock exchange. The investment mood is considered in the context of the possible impact of weather factors on investment decisions. Possible effects are verified in relation to the rates of return and the volume of trading of energy sector entities. The analysis is carried out both in terms of co-integration analyses as well as in econometric terms, in the cross-section of classic OLS models or causality analysis using VAR vector autoregression models. The main purpose of the issues discussed is the problem of indicating (illustrating) the presence or absence of mutual relations between weather factors and the stock market in terms of the methods considered.

Suggested Citation

  • Waldemar Tarczyński & Urszula Mentel & Grzegorz Mentel & Umer Shahzad, 2021. "The Influence of Investors’ Mood on the Stock Prices: Evidence from Energy Firms in Warsaw Stock Exchange, Poland," Energies, MDPI, vol. 14(21), pages 1-25, November.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:21:p:7396-:d:673347
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