2010
DOI: 10.1016/j.jebo.2010.06.004
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Investor mood and financial markets

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Cited by 101 publications
(80 citation statements)
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References 67 publications
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“…Such an explanation would be consistent with the "riskas-feelings" model propounded by Loewenstein et al (2001) which portrays the decision-making process as a product of cognitive evaluations and emotional reactions. In the same spirit, Nofsinger (2005) and Shu (2010) argued that social mood is of great consequence for financial markets and that it can drive the changes in prices of common equity. One would expect high values of Positive to be associated with strong stock market performance.…”
Section: Variable Description and Data Sourcesmentioning
confidence: 98%
“…Such an explanation would be consistent with the "riskas-feelings" model propounded by Loewenstein et al (2001) which portrays the decision-making process as a product of cognitive evaluations and emotional reactions. In the same spirit, Nofsinger (2005) and Shu (2010) argued that social mood is of great consequence for financial markets and that it can drive the changes in prices of common equity. One would expect high values of Positive to be associated with strong stock market performance.…”
Section: Variable Description and Data Sourcesmentioning
confidence: 98%
“…In this vein, Shu (2010) argued that optimistic investors are less patient than those who are more pessimistic and react aggressively by underestimating their exposure to risk. Oppositely, the more pessimistic investors display a high-level of risk aversion.…”
Section: Literature Reviewmentioning
confidence: 99%
“…His findings present that those sentiment measures have very little out-of-sample predictive power, though they present significant in-sample results. Shu (2010) studies the influence of mood on financial market behavior. The study shows how investor mood variations affect equilibrium asset prices and expected returns.…”
Section: Literature Reviewmentioning
confidence: 99%