Investor Sentiment and Asset Pricing: A Review
نویسندگان
چکیده
منابع مشابه
Investor Protection and Asset Pricing∗
Corporations in most countries are run by controlling shareholders, who have substantially smaller cash flow rights than their control rights in the firm. This separation of ownership and control allows the controlling shareholders to pursue private benefits at the cost of outside minority investors by diverting resources away from the firm and distorting corporate investment and payout policie...
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Article history: Accepted 20 November 2013 Available online xxxx JEL classification: G12 G14
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Recent empirical research in nance has uncovered two families of pervasive regularities: underreaction of stock prices to news such as earnings announcements, and overreaction of stock prices to a series of good or bad news. In this paper, we present a parsimonious model of investor sentiment, or of how investors form beliefs, which is consistent with the empirical ndings. The model is based on...
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ژورنال
عنوان ژورنال: Vidyodaya Journal of Management
سال: 2017
ISSN: 2448-9352,2448-9344
DOI: 10.31357/vjm.v3i1.3640