(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 annual Center for Innovation, Technology and Entrepreneurship (CITE) 100K Venture Competition and Exposition will be held on the Main Campus on Dec. 1. Twenty-eight teams from across the university will exhibit their project; six teams will compete for a prize pool of more than $100,000 in funding to launch their new venture / company. More than 650 students have participated in launching new technology ventures.
Biotechnology, Sciences and Engineering (BSE 2.102), Main Campus
This concert features 50 community children performing music in the UTSA Downtown String Project Winter Concert. The children, led by UTSA music students studying to be music teachers, will join together in playing the Theme from Batman at their concert. The Batman of San Antonio, a local celebrity figure, will make an appearance at the concert. This event is free.
Buena Vista Theatre, Downtown Campus
Graduate student uses storytelling to highlight important issues facing children
As touch screens and e-books demand more and more attention from both casual readers and scholars, many people say the handwriting is on the wall for the printed page.
At UTSA, the handwriting is on the wall for a library that doesn't have any printed books.
Since March 2010, the bookless library in the Applied Engineering and Technology Building has given UTSA students an innovative way to read, research and work with each other to solve problems.
With ultra-modern furniture and a décor featuring desktop computers, scanners and LCD screens, the AET Library is designed to engage students in an online format. But it also offers group study niches and study rooms with whiteboards and glass walls on which students can write. The space encourages teamwork, communications and problem solving for the next generation of scientists and professional engineers.
Did you know? The UTSA AET Library is the nation's first completely bookless library on a college or university campus. It served as a model for Bexar County's first-in-the-nation public bookless library system and one of its branches, the Dr. Ricardo Romo BiblioTech.
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.