Market sentiment: a key factor of investors' imitative behaviour
| dc.contributor.author | Blasco de las Heras, Natividad | |
| dc.contributor.author | Corredor Casado, María Pilar | |
| dc.contributor.author | Ferreruela Garcés, Sandra | |
| dc.contributor.department | Gestión de Empresas | es_ES |
| dc.contributor.department | Enpresen Kudeaketa | eu |
| dc.contributor.funder | Gobierno de Navarra / Nafarroako Gobernua | es |
| dc.date.accessioned | 2015-10-27T12:21:04Z | |
| dc.date.available | 2015-10-27T12:21:04Z | |
| dc.date.issued | 2012 | |
| dc.description | This is the peer reviewed version of the following article: Blasco, N., Corredor, P. and Ferreruela, S. (2012), Market sentiment: a key factor of investors’ imitative behaviour. Accounting & Finance, 52: 663–689, which has been published in final form at doi: 10.1111/j.1467-629X.2011.00412.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. | en |
| dc.description.abstract | 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 of return and market sentiment on herding intensity. The herding intensity is quantified using the measure developed by Patterson and Sharma (2006). The research was conducted during the period 1997-2003 in the Spanish stock market, where the presence of herding has been confirmed. The results reveal that the herding intensity depends on past returns and sentiment or subjective assessments and confirm the presence of both a rational and an emotional factor. | en |
| dc.description.sponsorship | The authors acknowledge the financial support of the Spanish Ministry of Science and Innovation (ECO2009-12819), ERDF funds, the Caja de Ahorros of the Inmaculada (Europe XXI Programme), the Government of Aragon and the Government of Navarra. | en |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.doi | 10.1111/j.1467-629X.2011.00412.x | |
| dc.identifier.issn | 0810-5391 (Print) | |
| dc.identifier.issn | 1467-629X (Electronic) | |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/18651 | |
| dc.language.iso | eng | en |
| dc.publisher | Wiley | en |
| dc.relation.ispartof | Accounting and Finance 52 (2012) 663–689 | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/MICINN//ECO2009-12819-C03-01/ES/ | |
| dc.relation.publisherversion | https://dx.doi.org/10.1111/j.1467-629X.2011.00412.x | |
| dc.rights | © 2011 The Authors. Accounting and Finance © 2011 AFAANZ | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.subject | Herding | en |
| dc.subject | Stock market | en |
| dc.subject | Behavioral finance | en |
| dc.subject | Sentiment | en |
| dc.title | Market sentiment: a key factor of investors' imitative behaviour | en |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.version | info:eu-repo/semantics/acceptedVersion | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | d0fb31bd-aa1a-4be4-bfdf-2d03e133b2cb | |
| relation.isAuthorOfPublication.latestForDiscovery | d0fb31bd-aa1a-4be4-bfdf-2d03e133b2cb |