(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."
UTSA Dance classes will take the stage and share their talents and passion for dance! Come support our growing dance program! $10 admission
Buena Vista Street Building Theater (BVB 1.326), Downtown Campus
This panel presentation will look at the history of the YWCA and the impact the organization has had on women in the San Antonio community.
McKinney Humanities Building (MH 2.02.10), Main Campus
The Demography Lecture Series continues with Dr. Barbara Bird of American University. Her topic focuses on Insights Into a Hard to Find Population: Latino Entrepreneurs in Metro Washington, D.C. Event is free and open to the public. Parking is available in the pay stall spaces of the Monterrey surface lot.
Monterrey Building (MNT 3.240), Downtown Campus
This video tells the story of four Latina lesbians who fought for exoneration after being wrongfully convicted of sexually assaulting two girls during the Satanic Panic witch-hunt era of the 1980s and 1990s.
H-E-B University Center, Bexar Room (HUC 1.102), Main Campus
Tejana/Indígena author Ire'ne Lara Ailva will read from her latest work and discuss her approach to reimagining Tejan@ myths.
Main Building (MB 2.404), Main Campus
Muralist Crystal Arias will discuss her current mural "Cultivate the Past to Prestige" at La India Herbs and themes she utilizes in her other works.
McKinney Humanities Building (MH 3.02.26), Main Campus
The UTSA Department of Modern Languages and Literatures is a co-sponsor of the CARTA 19th Annual Conference. The group meets annually to exchange educational programs, ideas, and techniques and to network with other teachers of Russian. Registration required.
DoubleTree by Hilton, Downtown San Antonio
Into the Woods is a musically sophisticated show with a leaning towards dark comedy. Dr. William McCrary directs. $15 tickets $10 students military seniors 55+ with IDs $8 groups of ten or more in any price level. There will be a second show Sunday, April 2 at 3 p.m.
Arts Building, Recital Hall (ARTS 2.03.02), 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.
To be a premier public research university, providing access to educational excellence and preparing citizen leaders for the global environment.
We encourage an environment of dialogue and discovery, where integrity, excellence, inclusiveness, respect, collaboration and innovation are fostered.