1 option
Trading in Twilight: Sleep, Mental Alertness, and Stock Market Trading / Hee Seo Han, David Hirshleifer, Jinfei Sheng, Zheng Sun.
- Format:
- Book
- Author/Creator:
- Han, Hee Seo.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w33477.
- NBER working paper series no. w33477
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2025.
- Summary:
- We test whether mental alertness, as proxied by sleep disruption, impairs investor trading performance. Using four complementary approaches, we document that retail investors who experience a later sunset time on average earn lower abnormal returns on their trades. These approaches include panel regression with household fixed effects, RDD based on time zone borders, comparison of different seasons and latitudes, and daylight saving changes. Further tests suggest that the sleep disruption effect derives from impaired investor attention.
- Notes:
- February 2025.
- Print version record
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.