Arbeitspapier
What moved share prices in the nineteenth-century London stock market?
Using a new weekly blue-chip index, this paper investigates the causes of stock price movements on the London market between 1823 and 1870. We find that economic fundamentals explain about 15 per cent of weekly and 34 per cent of monthly variation in share prices. Contemporary press reporting from the London Stock Exchange is used to ascertain what market participants thought were causing the largest movements on the market. The vast majority of large movements were attributed by the press to geopolitical, monetary, railway-sector, and financial-crisis news. Investigating the stock price changes on an independent list of events reaffirms these findings, suggesting that the most important specific events which moved markets were wars involving European powers.
- Sprache
-
Englisch
- Erschienen in
-
Series: QUCEH Working Paper Series ; No. 15-06
- Klassifikation
-
Wirtschaft
Economic History: Financial Markets and Institutions: General, International, or Comparative
Economic History: Financial Markets and Institutions: Europe: Pre-1913
Economic History: Government, War, Law, International Relations, and Regulation: Europe: Pre-1913
- Thema
-
British financial history
financial markets
share price movements
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Campbell, Gareth
Quinn, William
Turner, John D.
Ye, Qing
- Ereignis
-
Veröffentlichung
- (wer)
-
Queen's University Centre for Economic History (QUCEH)
- (wo)
-
Belfast
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Campbell, Gareth
- Quinn, William
- Turner, John D.
- Ye, Qing
- Queen's University Centre for Economic History (QUCEH)
Entstanden
- 2015
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