Political orientation of government and stock market returns

Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and 173 different governments reveals that there are no statistically significant differences in returns between left-wing and right-wing executives. Consequently, international investment strategies based on the political orientation of countries' leadership are likely to be futile.Stock market returns; Politics; Presidential puzzle

Stock market volatiltity around national elections

This paper investigates a sample of 27 OECD countries to test whether national elections induce higher stock market volatility. It is found that the country-specific component of index return variance can easily double during the week around an Election Day, which shows that investors are surprised by the election outcome. Several factors, such as a narrow margin of victory, lack of compulsory voting laws, change in the political orientation of the government, or the failure to form a coalition with a majority of seats in parliament significantly contribute to the magnitude of the election shock. Our findings have important implications for the optimal strategies of risk-averse stock market investors and participants of the option markets.Political risk; National elections; Stock market volatility

Political Orientation of Government and Stock Market Returns

Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and 173 different governments reveals that there are no statistically significant differences in returns between left-wing and right-wing executives. Consequently, international investment strategies based on the political orientation of countries' leadership are likely to be futile. --Stock market returns,Politics,Presidential puzzle

Stock Market Volatility around National Elections

This paper investigates a sample of 27 OECD countries to test whether national elections induce higher stock market volatility. It is found that the countryspecific component of index return variance can easily double during the week around an Election Day, which shows that investors are surprised by the election outcome. Several factors, such as a narrow margin of victory, lack of compulsory voting laws, change in the political orientation of the government, or the failure to form a coalition with a majority of seats in parliament significantly contribute to the magnitude of the election shock. Our findings have important implications for the optimal strategies of risk-averse stock market investors and participants of the option markets. --Political risk,National elections,Stock market volatility

Change in Bone Mineral Density among High Frequency Apheresis Blood Donors

Exposure to citrate anticoagulant during apheresis blood donation induces significant decreases in serum ionized calcium with subsequent perturbations to parathyroid hormone, vitamin D, and markers of bone remodeling. Cross-sectional studies of bone mineral density (BMD) among apheresis donors exhibit conflicting results. Resolving the potential impact of the highest apheresis donation frequency represents a significant knowledge gap in ensuring adequate protections for volunteer apheresis blood donors. ALTRUYST (NCT02655055) was a randomized, longitudinal, controlled clinical trial designed to determine if repeated exposure to citrate through apheresis donation reduces BMD. Male donors, 18-65 years of age with no more than five previous apheresis donations and no diseases of bone or mineral metabolism, agreed to make ≥20 apheresis donations in the subsequent one year period. Dual-energy x-ray absorptiometry was performed at baseline and again after one year of participation. Paired t-test was used to assess change in mean BMD. Donors in the apheresis arm (n=26) made a median of 20 donations (range 4–22 donations) during the one-year study period with a mean donation interval of 17.8 days. Controls (n=15) made zero apheresis donations and a median of two whole-blood donations (range 0-6). Mean lumbar spine BMD at the end of the study period did not differ significantly from that at the beginning among donors in the control arm (mean change=-0.002 g/cm2, 95% CI [-0.020, 0.016], p=0.78), nor did it change significantly among donors in the apheresis arm (mean change=0.007 g/cm2, CI [-0.005, 0.018], p=0.24). Change in mean BMD at the total hip was not statistically significant for control donors (mean change=0.002 g/cm2, CI [-0.006, 0.009], p=0.63) or apheresis donors (-0.004 g/cm2, CI [-0.10, 0.002], p=0.16). Tests for differences in proportions of donors with change in BMD exceeding the least significant change (LSC) at the lumbar spine (0.00743 ±0.02058g/cm2) between the apheresis and control arms in either a positive [apheresis 13 (50%), control 5 (33%), p=0.84] or negative direction [apheresis 8 (31%), control 6 (40%)] were statistically non-significant (p=0.87). Proportional increases [apheresis 6 (23%), control 6 (40%), p=0.25] and decreases [apheresis 11 (42%), control 3 (20%)] were not significantly different (p=0.15) at the total hip (LSC=0.00671±0.01859g/cm2)

Piety and Profits: Stock Market Anomaly during the Muslim Holy Month

Observed by more than 1.5 billion Muslims, Ramadan is one of the most celebrated religious rituals in the world. We investigate stock returns during Ramadan for 14 predominantly Muslim countries over the years 1989-2007. The results show that stock returns during Ramadan are almost nine times higher and less volatile than during the rest of the year. No discernible difference in trading volume is recorded. We find these results consistent with a notion that Ramadan positively affects investor psychology, as it promotes feelings of solidarity and social identity among Muslims world-wide, leading to optimistic beliefs that extend to investment decisions.Ramadan Effect; Behavioral Finance; Market Efficiency; Religion

Impact of mentoring on job satisfaction and retention

Purpose: To evaluate a mentoring program by examining the impact of length of orientation on job satisfaction, organizational commitment, and propensity to leave. Significance: For the first time in Canada, the Vermont Nurse Internship Project was being implemented in an acute care hospital. A mentoring program with the ability to increase retention and decrease cost was worth examining. Methods: A survey methodology was utilized to collect data from 27 newly hired nurses after being employed for 9 months. Results: Significant correlations were found between the following variables; organizational commitment and propensity to leave, organizational commitment and job satisfaction, and propensity to leave and job satisfaction. Of the new graduates surveyed, 62% identified the opportunity for full-time employment as the most common reason for leaving their current workplace. Conclusions: The results of this study can be utilized to shape mentoring programs of the future and to guide further research in this area