(Jan. 24, 2013) -- Chances are you or someone you know has suffered from the flu within the past few months. In fact, this winter, the U.S. Centers for Disease Control and Prevention (CDC) has reported some of the highest levels of influenza in several years. But, your health may not be the only thing that suffers during a flu epidemic. In fact, stock market trading activity decreases when flu incidence is high, according to a new study by John Wald, UTSA professor of finance in the College of Business.
The study, "Do Stock Markets Catch the Flu?" is forthcoming in the Journal of Financial and Quantitative Analysis. Wald and his co-authors examined the impact of influenza on stock markets, studying the New York Stock Exchange (NYSE) for trading activity and the CDC and Google Flu Trends to measure flu activity in and outside the United States over 13 years.
The results noted that in the United States, a higher incidence of flu is associated with decreased trading, decreased volatility, decreased returns and higher bid-ask spreads. Consistent with the flu affecting institutional investors and market makers, the decrease in trading activity and volatility is primarily driven by the incidence of influenza in the New York City area. However, the effect of the flu on bid-ask spreads and returns is related to the incidence of flu nationally. International data confirm their findings of a decrease in trading activity and returns when flu incidence is high.
So, should investors be wary of flu season? Wald says: "The importance of local flu effects on financial markets suggests that it may be important for companies to urge their key employees to get a flu shot."
The UTSA community welcomes students to their on-campus home! Laurel Village, Chaparral Village and Alvarez Hall are home for 2,300 students during the academic year, and Move-In event kicks off the start of Roadrunner Days.
Laurel Village, Chaparral Village, Alvarez Hall, Main Campus
The College of Engineering hosts this seminar featuring Jeff Adams, Southwest Zone Quality Manager, Siemens Building Technologies Division. The event is free and open to the public.
Engineering Building (EB 3.04.30), Main Campus
This is a terrific opportunity for incoming transfer students to network with staff that serve our veteran, non-traditional, and transferring students, as well as meet transfer peer mentors who can help answer questions about UTSA.
Main Building ground floor lobby, Main Campus
After a day full of moving and getting settled into their new UTSA home, students and their families can have some refreshments and snacks at the Welcome Back Reception. The event tops off with the premiere performance of the Spirit of San Antonio, UTSA's Marching Band.
University Center Paseo, Main Campus
Can you survive the library wilderness? As a part of Roadrunner Days, UTSA Libraries is hosting a mobile adventure for you to play and find out more about the library!
John Peace Library, 2nd floor, Main Campus
Come meet your UTSA Volleyball Team as they gear up for the 2017 season! The game begins at 5 p.m. then the team will hold an autograph and photo session after the game.
Convocation Center, Main Campus
This engaging discussion pulls back the covers on hooking up, clarifying when it’s actually sexual violence and how bystanders can protect potential victims from predators.
University Center, Retama Auditorium (UC 2.02.02), Main Campus
Late Night at the Rec is an awesome UTSA tradition that transforms a standard information session into an exciting night of fun. At this annual event, you’ll be able to learn about our facilities, recreation programs, and wellness services offered at Main and Downtown Campuses.
Recreation and Wellness Center, Main Campus
The University of Texas at San Antonio is dedicated to the advancement of knowledge through research and discovery, teaching and learning, community engagement and public service. As an institution of access and excellence, UTSA embraces multicultural traditions and serves as a center for intellectual and creative resources as well as a catalyst for socioeconomic development and the commercialization of intellectual property - for Texas, the nation and the world.
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