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Abstract

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Transformation of Korean Politics and Administration: A 30 Year Retrospective
Type: Book
ISBN: 978-1-80382-116-0

Article
Publication date: 6 June 2008

Christos Floros

The paper's aim is to examine the influence of the Greek political elections on the course of the Athens Stock Exchange (ASE). Using daily data from the ASE General Price…

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Abstract

Purpose

The paper's aim is to examine the influence of the Greek political elections on the course of the Athens Stock Exchange (ASE). Using daily data from the ASE General Price Index, it seeks to empirically examine the effect of political elections (Parliamentary and European elections) on the course of the ASE over the period 1996‐2002.

Design/methodology/approach

This paper examines the relationship between Greek political elections and ASE using ordinary least squares (OLS) models. It concentrates on the pre‐election and the post‐election periods of the last decade. Daily closing prices of the General ASE index are used for the period 1996‐2002.

Findings

The results show that two months prior to the elections index performance increases on average and the mean daily fluctuation decreases. One month before the elections, index performance decreases, the mean daily fluctuation increases and the change of daily exchange value increases on average. During the three‐month post‐election period, there is a considerable increase of index progress. Furthermore, between three and six months after the elections, a decrease in performance is found, while for a collective six months after the elections, there is remarkably positive course. Using a simple OLS model with a dummy variable, it is found that there is a negative effect of the political elections on the course of the ASE. However, this effect is always insignificant.

Practical implications

The results have important implications for traders, investors and political analysts. The findings are strongly recommended to financial managers dealing with Greek stock indices.

Originality/value

The main contribution of this paper is to provide evidence using data before and after the financial crisis of 1999‐2001 in Greece.

Details

Managerial Finance, vol. 34 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 31 May 2005

Satish P. Deshpande and Jacob Joseph

The objective of this research was to examine factors that impact union elections in the trucking sector. Since trucking firms are labor intensive, unions can have an…

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Abstract

The objective of this research was to examine factors that impact union elections in the trucking sector. Since trucking firms are labor intensive, unions can have an impact on the cost of doing business and competitiveness. One hundred and ninety‐nine union elections conducted by the National Labor Relations Board in trucking firms between January 2001 and December 2002 were examined. Type of union, size of bargaining unit, election delays, and voter turnout significantly impacted union win rates. Type of election, type of state, and type of bargaining unit did not impact union win rates. Implications for managers, educators, and union leaders in trucking are discussed.

Details

International Journal of Commerce and Management, vol. 15 no. 2
Type: Research Article
ISSN: 1056-9219

Keywords

Article
Publication date: 3 May 2016

Spyridon Repousis

The purpose of this paper is to examine the influence of major non-economic events such as the results of five Greek national Parliamentary elections during 1996-2009 on…

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Abstract

Purpose

The purpose of this paper is to examine the influence of major non-economic events such as the results of five Greek national Parliamentary elections during 1996-2009 on the Greek banks’ stocks.

Design/methodology/approach

Using daily data from the Athens Stock Exchange, event study methodology and market model, the results of this paper claim that the five Greek national Parliamentary elections during the 1996-2009 period had no statistically significant effect on the Greek banks’ stocks. The results show that cumulative average abnormal returns (CAARs) were slightly positive or negative for Greek banks’ stocks but not statistically significant at 5 and 10 per cent confidence levels.

Findings

Investors were not surprised and the political information caused no change and no influence on the future and course of the stock market. Expected winning political party was the same as the actual winning political party. Results showed that during pre-event period of 2000 and 2004 Greek national Parliamentary elections, CAARs for Greek banks’ stocks were slightly positive and after the event period were slightly negative but not statistically significant at all periods. During 2007 Greek national Parliamentary elections, the effect of elections changed because CAARs were generally slightly negative during the pre-event period and positive after the event period. Also, non-statistically significant CAARs indicate that there is no evidence that either political party was able to manipulate bank stocks’ prices for election purposes.

Originality/value

The main contribution of this paper is to provide evidence about effects of national elections to bank stocks’ prices which have important implications for stockbrokers, investors, politicians and political analysts.

Details

Journal of Financial Crime, vol. 23 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 15 September 2022

Edward Elder, Jennifer Lees-Marshment and Neil Thomas Bendle

This paper aims to identify both the traditional and novel forms of marketing behind New Zealand Prime Minster Jacinda Ardern’s landslide victory in the 2020 New Zealand…

Abstract

Purpose

This paper aims to identify both the traditional and novel forms of marketing behind New Zealand Prime Minster Jacinda Ardern’s landslide victory in the 2020 New Zealand General Election during the COVID-19 pandemic.

Design/methodology/approach

This research analysed both qualitative and quantitative data, including over 70 primary sources, the perspectives of practitioners, polling and data from surveys with over 450,000 respondents. The qualitative data was analysed interpretively against established theoretical concepts, whereas the quantitative data was analysed through descriptive statistics.

Findings

This research found that COVID-19 drastically changed what the public prioritised, allowing Ardern and Labour to position themselves as guardians of government stability, while camouflaging previous delivery failures. Labour also used a more emergent market-oriented and “polite” populist political marketing strategy.

Research limitations/implications

While the survey data used is not a perfect sample of the population, it is the largest public opinion survey in New Zealand and, given its convergence with other sources, provides valuable insights into political marketing during a crisis more broadly.

Practical implications

This research reinforces marketing’s most important aspect; the market should drive action. How decision makers respond to the market should depend on the environment. Thus, up-to-date market research becomes even more important during a crisis, as the environment changes rapidly. This leaves prior assumptions obsolete and implies strategy needs to be adaptive. Additionally, greater public attention provides governing leaders with the opportunity to present a more well-rounded leadership image.

Originality/value

To the best of the authors’ knowledge, this is the first research to look at marketing while in government and election campaigning in the context of successful management of a global pandemic.

Details

European Journal of Marketing, vol. 56 no. 8
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 6 October 2022

Azhar Mohamad

This paper aims to explore the election cycle and financial markets puzzle in a unique emerging market like Malaysia.

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Abstract

Purpose

This paper aims to explore the election cycle and financial markets puzzle in a unique emerging market like Malaysia.

Design/methodology/approach

By employing an event-study methodology and wavelet analyses, the author tests for uncertain information hypothesis by examining the reactions of the Kuala Lumpur Composite Index (KLCI) and ringgit surrounding Malaysian general elections, spanning from GE5 (1978) to GE14 (2018). This paper also explores the relationship between KLCI and ringgit.

Findings

While the author does not find support for the uncertain information hypothesis, the author uncovers that KLCI tends to overreact following elections, regardless of the winning coalition. The author also records no relationship between KLCI and ringgit in the short run, but the author observes that ringgit leads KLCI in the long run.

Practical implications

The study’s findings bear implications for investors' disposition in the Malaysian equity market. Investors should square off their positions before the general elections to avoid equity market overreactions and potential losses.

Originality/value

Before Malaysia GE14 (2018) general election, Barisan Nasional carried the reputation as one of the longest-serving ruling coalitions in the world since Malaya independence in 1957. However, the ruling coalition was voted out in GE14 (2018), and the Malaysian equity has since dropped.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 6 September 2022

Godwin Musah, Daniel Domeher and Joseph Magnus Frimpong

The purpose of this paper is to investigate overconfidence bias and the effect of presidential elections on investor overconfidence bias in sub-Saharan African stock markets.

Abstract

Purpose

The purpose of this paper is to investigate overconfidence bias and the effect of presidential elections on investor overconfidence bias in sub-Saharan African stock markets.

Design/methodology/approach

The study uses the vector autoregressive (VAR) model and its associated impulse response functions to investigate overconfidence bias. Furthermore, we make use of OLS regressions to examine the effect of presidential elections on investor overconfidence bias.

Findings

Investor overconfidence bias is present in the markets of Ghana and Tanzania suggesting that the phenomenon persists in sub–Saharan Africa's small markets. We also find that post-presidential election periods have a dampening effect on investor overconfidence in a country where there is less post-election uncertainty.

Originality/value

Despite the previous studies on investor overconfidence bias in sub-Saharan Africa, this paper to the best of the authors’ knowledge, is the first to investigate investor overconfidence bias in the context of presidential elections.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Book part
Publication date: 30 January 2014

Ashley Gromis

Campaign songs have been staples of U.S. presidential elections for more than 200 years, but have undergone important changes in not only structure over time, but who uses…

Abstract

Campaign songs have been staples of U.S. presidential elections for more than 200 years, but have undergone important changes in not only structure over time, but who uses them and why. Following a discussion of the concentration of the American popular music industry and the shift from party-based to ideology-driven electoral politics, a two-dimension typology and hypotheses are formulated to help discern the distinct roles of these institutions in the transformation of the U.S. presidential campaign song. Data was systematically collected on the most prominent songs associated with each presidential campaign from 1788 to the present. In order to provide greater context for the use of songs in presidential campaigns over time, additional newspaper articles were collected for four elections. Results suggest that changes in the structure of the American music industry and the organization of presidential campaigns significantly affect the form of U.S. presidential campaign songs.

Details

Voices of Globalization
Type: Book
ISBN: 978-1-78190-546-3

Book part
Publication date: 23 February 2016

Francis P. Barclay, C. Pichandy, Anusha Venkat and Sreedevi Sudhakaran

Do public opinion and political sentiments expressed on Twitter during election campaign have a meaning and message? Are they inferential, that is, can they be used to…

Abstract

Purpose

Do public opinion and political sentiments expressed on Twitter during election campaign have a meaning and message? Are they inferential, that is, can they be used to estimate the political mood prevailing among the masses? Can they also be used to reliably predict the election outcome? To answer these in the Indian context, the 2014 general election was chosen.

Methodology/approach

Tweets posted on the leading parties during the voting and crucial campaign periods were mined and manual sentiment analysis was performed on them.

Findings

A strong and positive correlation was observed between the political sentiments expressed on Twitter and election results. Further, the Time Periods during which the tweets were mined were found to have a moderating effect on this relationship.

Practical implications

This study showed that the month preceding the voting period was the best to predict the vote share with Twitter data – with 83.9% accuracy.

Social implications

Twitter has become an important public communication tool in India, and as the study results reinstate, it is an ideal research tool to gauge public opinion.

Details

Communication and Information Technologies Annual
Type: Book
ISBN: 978-1-78560-785-1

Keywords

Book part
Publication date: 16 October 2017

Seon-Gyu Go

This chapter explores how the Korean electoral management bodies (EMBs) and the election administration ensure the autonomy of administrative management from political…

Abstract

This chapter explores how the Korean electoral management bodies (EMBs) and the election administration ensure the autonomy of administrative management from political parties and the interior ministry. In particular, the analysis focuses on the role of recognition, rights independence, and professionalism in securing the election administrations in the EMBs. Recent studies have found that the contents of the independent variable, dependent variable, and other parameters influencing fair and autonomous election management system do not differ significantly. Therefore, the institutional independence of the EMBs is not intended to guarantee fairness and impartiality in Korea either. Since 1987, the authoritarian regime collapsed and democracy began to grow in Korea. Also, the role of the EMBs granted by the constitution started to be considered.

Actively recognizing the role and expanding the rights of the Korean National Election Commission (NEC) has become a decisive factor in the formation of the autonomous and neutral election management system. The scale, manpower and budget of organizations, and personnel have increased. The role of the EMBs has also expanded proportionally. The Korean NEC has enormous authority, such as investigative power and enforcement power that the EMBs of other countries do not have. After all, recognizing the role of bureaucracy and government employees will become a very important factor in ensuring the independence of the EMBs in developing countries. Furthermore, it will be a driving force to develop democracy in developing countries.

Details

The Experience of Democracy and Bureaucracy in South Korea
Type: Book
ISBN: 978-1-78714-471-2

Keywords

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