0000000000315378
AUTHOR
Andreas Walter
The Impact of Financial Times Deutschland News on Stock Prices – Post Announcement Drifts and Inattention of Investors
Within this paper, we analyze the impact of Financial Times Deutschland (FTD) news on stock prices and trading volumes. Based on a sample of all news on German DAX, MDAX and SDAX companies published within the news section of the FTD between 2006 and 2010, our results show that articles that contain positive (negative) information are associated with significantly positive (negative) abnormal returns and abnormal trading volumes around their publication. Furthermore, our results show an initial underreaction to these articles and a subsequent post publication drift. Based on the inattention hypothesis, we show that high-attention news (proxied by abnormal trading volume) almost instantaneou…
A new windstorm proxy from lake sediments: A comparison of geological and meteorological data from western Germany for the period 1965–2001
[1] The feasibility of detecting windstorm layers in lake sediments is explored by comparing quartz grain size data from a freeze core obtained from the Schalkenmehrener Maar (Eifel region, western Germany) to recent meteorological wind data. The Schalkenmehrener Maar is appropriate for such a calibration study because the morphological settings of the lake allow the conservation of windstorm layers (in particular, there is no fluvial sediment inflow) and long-term wind measurements are available from nearby stations. The age model for the uppermost 30 cm of the sediment core is based on measurements of 137Cs and 210Pb concentrations. An ultra-high-resolution grain size analysis is performe…