THE ASYMMETRIC EFFECTS OF INVESTOR SENTIMENT
نویسندگان
چکیده
منابع مشابه
A Model of Investor Sentiment
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: Macroeconomic Dynamics
سال: 2015
ISSN: 1365-1005,1469-8056
DOI: 10.1017/s1365100514000996