Investor sentiment has a widespread and systematic effect on perfordoi:10.2139/ssrn.2311832Alexander MolchanovJeffrey Scott StanglSocial Science Electronic PublishingMolchanov, A., & Stangl, J. (2013). Investor Sentiment and Industry Returns. New Zealand Finance Colloquium. Dunedin....
Our main empirical findings are: (1) the effects of sentiment on predicting the cross-section of future stock returns are significant only under a certain regime (bullish regime); (2) dividend- and earning-oriented portfolios show strong conditional predictability patterns only after conditioning on...
This reveals a negative correlation between the initial return of IPOs and post-IPO performance, i.e., the higher the initial return, the worse the post-IPO performance. 2.2. Impact of investor attention on post-IPO performance Investor sentiment has a significant relationship with IPO returns (...
which suggests the influence of the investor sentiment on the decision-making process.To be specific, stock returns are lower on days around a full moon than on days around a new moon.The return differences are statistically and economically significant during the sample period.Since lunar phases ...
retail investor Sentiment and Return Comovements英文翻译.pdf,THE JOURNAL OF FINANCE • VOL. LXI, NO. 5 • OCTOBER 2006 Retail Investor Sentiment and Return Comovements ALOK KUMAR and CHARLES M.C. LEE∗ ABSTRACT Using a database of more than 1.85 mi
This research also finds that both media attention and coverage sentiment mitigate the negative relationship between investor attention and environmental performance of high-tech firms. Heterogeneity analysis reveals that in the sample of IT service industry, heightened media attention exacerbates the ...
Comovements between multidimensional investor sentiment and returns on internet financial products 2023, International Review of Financial Analysis Citation Excerpt : A detailed description of all the variables and data sources is presented in Table 1, while Table 2 reports descriptive statistics for all ...
5. The potential of tourism resources has also attracted a large number of visitors to Tian`e sightseeing, now Tian`e feng shui has become a treasure in order to investor sentiment. 旅游资源的潜力也吸引了大量游客天峨旅游,现在天峨风水已经成为一种财富,以投资者的情绪。 6. 6. A Chinese inves...
The result that herding is behavioral has implications for investor wealth and asset prices. If herding behavior is systematic, we expect stocks with more herding to be overpriced since this behavior may generate investor sentiment that leads to more net purchases (more than one would expect from ...
In recent years, growing attention has been paid to the impact of investor sentiment on the correlation of stock and bond market returns (Abdelhédi-Zouch, Abbes, & Boujelbène, 2015). Investor sentiment, defined as the optimism or pessimism about stocks in general (Baker & Wurgler, 2006),...