(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."
Roadrunners unite as we ring in the Coach Frank Wilson era. There will be raffle prizes, giveaways and a tailgating competition among UTSA Football tailgate groups. Meet your 2016 Roadrunners football team, get autographs, and meet Coach Wilson.
Convocation Center, Main Campus
All current registered student organizations are invited and encouraged to participate in the Showcase which allows all new students an opportunity to learn more about the involvement opportunities and student life at UTSA.
University Center Lawn, Main Campus
Hang out with your friends for an encore showing of Captain America: Civil War.
University Center Denman Room, Main Campus
Come enjoy a free brunch and listen to wonderful Jazz music as we mark the end of a successful Roadrunner Days 2016.
H-E-B University Center Ballroom, Main Campus
District 8 Councilman Ron Nirenberg and State Sen. José Menéndez host a Cultural Conversations event at the UTSA Institute of Texan Cultures to talk about issues of intolerance and ways to unify the community.
UTSA Institute of Texan Cultures
Known for her unique ability to make sophisticated numbers reveal simple truths, Talithia Williams explores how big data can be used to make smart decisions in education, business, and everyday situations.
Main Building Auditorium, MB 0.104, Main Campus
The UTSA International Conference on Aging inthe Americas seeks to address the important context in understanding how characteristics of physical, social and economic environments give rise to disparities in Latino health in older adults.
UTSA Downtown Campus, Durango Bldg. Southwest Room (DB 1.124)
UTSA Mexico Center director Dr. Harriett Romo and program coordinator Olivia Mogollon, along with U.S. and Mexican scholars discuss migration between Mexico and the U.S. during this panel presentation.
UTSA Institute of Texan Cultures
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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