Investor sentiment effect in stock markets: stock characteristics or country-specific factors?

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Date
2013Version
Acceso abierto / Sarbide irekia
xmlui.dri2xhtml.METS-1.0.item-type
Artículo / Artikulua
Version
Versión aceptada / Onetsi den bertsioa
Project Identifier
ES/6PN/ECO2009-12819 ES/6PN/ECO2012-35946
Impact
|
10.1016/j.iref.2013.02.001
Abstract
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 markets. The variation appears to involve both stock characteristics and cross-country cultural or institutional differences. The results also show sensitivity to the choice of ...
[++]
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 markets. The variation appears to involve both stock characteristics and cross-country cultural or institutional differences. The results also show sensitivity to the choice of sentiment proxy. [--]
Subject
Publisher
Elsevier
Published in
International Review of Economics and Finance 27 (2013) 572–591
Departament
Universidad Pública de Navarra. Departamento de Gestión de Empresas /
Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
Publisher version
Sponsorship
This paper has received financial support from the Spanish Ministry of Science and Innovation (ECO2009-12819) and from the
Spanish Ministry of Economy and Competitiveness (ECO2012-35946-C02-01).
Appears in Collections
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Except where otherwise noted, this item's license is described as © 2013 Elsevier Inc. The manuscript version is made available under the CC BY-NC-ND 4.0 license.
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