What Makes Cryptocurrencies Special? Investor Sentiment and Return Predictability During the Bubble
نویسندگان
چکیده
منابع مشابه
Investor Sentiment, Disagreement and Return Predictability of Ownership Breadth
We extend theories and empirics in Chen, Hong and Stein (2002) by allowing investors subject to market sentiment to hold a biased belief in aggregate. With a dynamic multiple-asset model, we show that the ownership breadth-return relationship can be either positive or negative depending on the relative strength of two offsetting forces: (1) variation in disagreement and (2) variation in sentime...
متن کاملInvestor Sentiment, Disagreement and Return Predictability of Ownership Breadth
We extend theories and empirics in Chen, Hong,and Stein (2002) by allowing investors subject to market sentiment to hold a biased belief in aggregate. With a dynamic multiple-asset model, we show that the ownership breadth-return relationship can be either positive or negative depending on the relative strength of two offsetting forces: (1) variation in disagreement and (2) variation in sentime...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3398423