The Influence of Solar Activity on the Investors' Behaviour in the Stock Markets (Влияние Солнечной Активности На Поведение Инвесторов На Фондовых Рынках - In Russian)

9 Pages Posted: 7 Feb 2011 Last revised: 2 Oct 2013

See all articles by Alexander Pakhalov

Alexander Pakhalov

Moscow State University - Faculty of Economics

Date Written: February 4, 2011

Abstract

The main aim of the article is to find a statistically significant correlation between solar activity and some indicators of the stock market. Some experts suppose that the financial crisis of 2008-2009 was partly caused by a period of minimum solar activity. Nevertheless, in this study, based on the analysis of extensive historical data, connection between solar activity and the stock market was not found. Author assume that natural factors, which include the influence of the Sun, create only a background for the decisions made by investors in the markets, and the adequate assessment of their significance will be possible only within the multifactor model, which also includes macroeconomic and other important indicators.

Note: Downloadable document is in Russian.

Keywords: Sun, the Wolf number, quotes, financial markets, investor behavior, the MICEX index, Dow Jones, Lukoil, Norilsk Nickel

Suggested Citation

Pakhalov, Alexander, The Influence of Solar Activity on the Investors' Behaviour in the Stock Markets (Влияние Солнечной Активности На Поведение Инвесторов На Фондовых Рынках - In Russian) (February 4, 2011). Available at SSRN: https://ssrn.com/abstract=1755175 or http://dx.doi.org/10.2139/ssrn.1755175

Alexander Pakhalov (Contact Author)

Moscow State University - Faculty of Economics ( email )

1-46 Leninskiye Gory
Moscow, 119991
Russia

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