库存(枪支)
无理数
经济
金融经济学
超额收益
计量经济学
对冲基金
财务
几何学
数学
机械工程
生物
工程类
古生物学
背景(考古学)
作者
Ajit Yadav,Anindita Chakraborty
出处
期刊:Global Business and Economics Review
[Inderscience Enterprises Ltd.]
日期:2023-01-01
卷期号:28 (4): 425-446
被引量:1
标识
DOI:10.1504/gber.2023.131193
摘要
The effect of investor sentiment on stock returns is a topic of long-standing interest amongst behavioural economists. This paper systematically reviews the literature on the effect of investor sentiment on stock returns. We have systematically reviewed 107 selected studies and analysed them based on the year, journal of publication, country of sample data, study type, techniques employed, and citations. The literature analysis reveals the dearth of literature on the sentiment-return relationship in developing economies. It also highlights that there exists no set consensus on the sentiment-return relationship along with a lack of clear-cut distinction between the effect of components (rational or irrational) of investor sentiment on the stock performance. It also questions whether the investors can hedge against future risk and whether distinct return patterns are based upon the lead-lag variation or is merely the effect of the optimistic exuberance of the investors.
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