Investor sentiment effect in stock markets: stock characteristics or country-specific factors?
Fecha
2013Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión aceptada / Onetsi den bertsioa
Impacto
|
10.1016/j.iref.2013.02.001
Resumen
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. [--]
Materias
Sentiment,
Stock market,
Stock characteristics,
Country-specific factors,
European stock markets
Editor
Elsevier
Publicado en
International Review of Economics and Finance 27 (2013) 572–591
Departamento
Universidad Pública de Navarra. Departamento de Gestión de Empresas /
Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
Versión del editor
Entidades Financiadoras
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).
Aparece en las colecciones
Los documentos de Academica-e están protegidos por derechos de autor con todos los derechos reservados, a no ser que se indique lo contrario.
La licencia del ítem se describe como © 2013 Elsevier Inc. The manuscript version is made available under the CC BY-NC-ND 4.0 license.
Ítems relacionados
Mostrando ítems relacionados por Título, autor o materia.
-
Land use change effects on carbon and nitrogen stocks in the Pyrenees during the last 150 years: a modelling approach
Lo, Yueh-Hsin ; Blanco Vaca, Juan Antonio ; Canals Tresserras, Rosa María ; González de Andrés, Ester ; San Emeterio Garciandía, Leticia ; Imbert Rodríguez, Bosco ; Castillo Martínez, Federico (Elsevier, 2015) Artículo / ArtikuluaIn the southern Pyrenees, human population and therefore land uses have changed from forests to pastures, then crops, and back to pastures and secondary forests during the last two centuries. To understand what such rapid ... -
Detecting intentional herding: what lies beneath intraday data in the Spanish stock market
Blasco de las Heras, Natividad; Corredor Casado, María Pilar ; Ferreruela Garcés, Sandra (Palgrave Macmillan, 2011) Artículo / ArtikuluaThis 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 ... -
Does herding affect volatility? Implications for the Spanish stock market
Blasco de las Heras, Natividad; Corredor Casado, María Pilar ; Ferreruela Garcés, Sandra (Taylor & Francis, 2012) Artículo / ArtikuluaAccording 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 ...