摘要：Öz Psychology literature founds that suicides are the happiness barometers of societies and negative mood of society has a dominant role in the increment of suicide cases. This study uses suicide cases as the proxy variable of mood and investigates its effect on Turkish stock market. Our study finds co-incidence in periods of increased suicide rates with hike in the stock returns in the Turkish stock exchange. This upshot is consistent with the hypothesis that negative mood increases the demand for risky assets. Furthermore, this study explains how specifically the Turkish market returns are affected by the negative mood of society from psychological point of view. One of the major contributing facts is, individuals in a negative mood demand for risky assets in order to reward themselves. Moreover, the buying behavior towards all risky or risk-free assets has an antidepressant effect in individuals with negative mood.
其他摘要：Psychology literature founds that suicides are the happiness barometers of societies and negative mood of society has a dominant role in the increment of suicide cases. This study uses suicide cases as the proxy variable of mood and investigates its effect on Turkish stock market. Our study finds co-incidence in periods of increased suicide rates with hike in the stock returns in the Turkish stock exchange. This upshot is consistent with the hypothesis that negative mood increases the demand for risky assets. Furthermore, this study explains how specifically the Turkish market returns are affected by the negative mood of society from psychological point of view. One of the major contributing facts is, individuals in a negative mood demand for risky assets in order to reward themselves. Moreover, the buying behavior towards all risky or risk-free assets has an antidepressant effect in individuals with negative mood.
