I am currently working on my thesis in behavioral finance. My topic is about short term stock returns after the elections. One paper ("Sport Sentiments and Stock Returns") proves that the losing country in a sports game exhibits much lower short term stock returns because of the sport event's impact on the mood of individuals. I would like to make a similar argument about the elections in two party systems where close to half the voters will feel like they have lost the elections. My hypothesis is that this could lead to a downbeat mood for everyone who 'lost' the election and consequently lead to lower short term returns. My question now is if anyone knows about a study which has investigated if the outcomes of an election influence the mood of individuals?
Does anyone know papers investigating the impact of election outcomes on individual's mood?
Thanks for your help in advance!