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What is Investor Sentiment and Stock Returns Analysis about?

This document examines whether consumer confidence, as a proxy for individual investor sentiment, affects expected stock returns in 18 industrialized countries. It finds that for about half of the countries, higher sentiment is negatively correlated with future stock returns. It also finds that the impact of sentiment on returns is stronger in countries that are more prone to herd-like behavior and have less market integrity. The document reviews previous literature on the relationship between investor sent

Author

hanh0289

Language

EN