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Market sentiment: a key factor of investors' imitative behaviour
(Wiley, 2012)
Artículo / Artikulua,
The aim of this paper is to explore herding behavior among investors in order to determine its rational and emotional component factors and identify relationships among them. We apply causality tests to evaluate the impact ...
Value of analysts’ consensus recommendations and investor sentiment
(Taylor & Francis, 2013)
Artículo / Artikulua,
This paper studies the effect of investor sentiment on analysts' consensus recommendations. Our results show that the optimistic bias of analysts in the issuing of recommendations is affected by investor sentiment: the ...
Sentiment-prone investors and volatility dynamics between spot and futures markets
(Elsevier, 2015)
Artículo / Artikulua,
This paper analyses the role of investor sentiment in the contemporaneous dynamics of spot and futures markets and in volatility spillovers between them. To explore this issue, we analyse spot and futures markets on stock ...
Is cognitive bias really present in analyst forecasts? The role of investor sentiment
(Elsevier, 2014)
Artículo / Artikulua,
This paper analyses four key markets within the European context. In this context, where the level of analyst coverage is lower than in the US setting, we aim to ascertain whether the origin of optimism in analyst forecasts ...
Detecting intentional herding: what lies beneath intraday data in the Spanish stock market
(Palgrave Macmillan, 2011)
Artículo / Artikulua,
This paper examines the intentional herd behaviour of market participants, using Li´s test to compare the probability distributions of the scaled cross-sectional deviation in returns in the intraday market with the ...
TQM and performance: Is the relationship so obvious?
(Elsevier, 2011)
Artículo / Artikulua,
The aim of this study is to explore more fully the relationship between total quality management (TQM) and firm performance, taking TQM as an internally consistent system of practices. The paper tests the link between the ...
Does herding affect volatility? Implications for the Spanish stock market
(Taylor & Francis, 2012)
Artículo / Artikulua,
According to rational expectation models, uninformed or liquidity trading make market price volatility rise. This paper sets out to analyze the impact of herding, which may be interpreted as one of the components of ...
The impact of investor sentiment on stock returns in emerging markets. The case of Central European markets
(Taylor & Francis, 2015)
Artículo / Artikulua,
This paper studies the effect of investor sentiment on stock returns in three Central European markets: the Czech Republic, Hungary and Poland. The results show that sentiment is a key variable in the prices of stocks ...
El sentimiento del inversor y las rentabilidades de las acciones. El caso español
(AECATaylor & Francis, 2013)
Artículo / Artikulua,
El presente trabajo analiza el efecto del sentimiento en las rentabilidades de los activos del
mercado español. Los resultados muestran un efecto significativo del índice de sentimiento local sobre
las rentabilidades de ...
Investor sentiment effect in stock markets: stock characteristics or country-specific factors?
(Elsevier, 2013)
Artículo / Artikulua,
This paper analyzes the investor sentiment effect in four key European stock markets: France, Germany, Spain and the UK. The findings show that sentiment has a significant influence on returns, varying in intensity across ...