Ferrer Zubiate, Elena

Profile Picture

Email Address

person.page.identifierURI

https://academica-e.unavarra.es/handle/2454/49029

Birth Date

Job Title

Last Name

Ferrer Zubiate

First Name

Elena

person.page.departamento

Gestión de Empresas

person.page.instituteName

INARBE. Institute for Advanced Research in Business and Economics

ORCID

0000-0002-1761-9120

person.page.observainves

88766

person.page.upna

810096

Name

Filters

2021 - 20242
Reset filters

Settings

Start date: 2020 × Subject: Investor sentiment ×

Search Results

Now showing 1 - 2 of 2
  • Thumbnail Image
    PublicationOpen Access
    Does investor sentiment affect bank stability? International evidence from lending behavior
    (Elsevier, 2021) Cubillas, Elena; Ferrer Zubiate, Elena; Suárez Suárez, Nuria; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas
    We study the impact of investor sentiment on bank credit and how changes in lending may affect bank stability. We analyze a sample of 2,673 banks from 127 developed and developing countries during the 1997–2016 period. Our results indicate that periods of high investor sentiment positively affect bank lending and encourage bank risk-taking through the increase in the amount of loans granted which, in fact, reduces bank stability. We find that the impact of investor sentiment on bank stability through changes in growth in bank loans is less negative in countries where creditor rights protection is greater, in terms of both collateral and bankruptcy. During systemic banking crises, the negative effect on bank stability was weaker since any increase in bank credit supply provoked by investor sentiment was counteracted by the crisis.
  • Thumbnail Image
    PublicationOpen Access
    Analyst optimism and market sentiment: evidence from European corporate sustainability reporters
    (Elsevier, 2024) Río Solano, María Cristina del; Ferrer Zubiate, Elena; López Arceiz, Francisco José; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
    This study investigates the effect of investor sentiment on analysts’ optimism bias for a set of European companies with high-quality non-financial information reporting. The contents of the reports should make stock recommendations for such firms that are less prone to sentiment-driven optimism bias; our observations show this to be the case. For further insight, we analysed the informative value of stock recommendations in high- and low-sentiment periods, taking sustainability reporting quality into account. We find that buy recommendations for high-sustainability stocks have no informational value when sentiment is high, whereas informative recommendations in the form of sell recommendations for low-sustainability stocks appear when sentiment is high.