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Superstition on Zodiac and Firm Performance: Evidence From China

Files

Dissertation(2.26 MB)

Date

2020

Authors

Supervisor

Nguyen, Nhut (Nick) Hoang

Item type

Dissertation

Degree name

Master of Business

Journal Title

Journal ISSN

Volume Title

Publisher

Auckland University of Technology

Abstract

Among the widespread superstitions in China, the “zodiac year” of birth, which occurs once every 12 years, is believed to bring bad luck to one’s career, health, or family. In this study I investigate if the zodiac year of a firm’s top executives would bring negative impact on the firm’s financial performance compared to normal years. I find that ROA, ROE, and Tobin’s Q are significantly lower in the zodiac year than those in normal years. However, the firm’s stock returns do not seem to reflect the zodiac year’s negative impact.

Description

Keywords

Superstition, Zodiac year of birth, Chinese chairman, Firm performance

Source

DOI

Publisher's version

Rights statement

Permanent link

https://hdl.handle.net/10292/13292

Collections

Masters Dissertations