Market sentiment: a key factor of investors' imitative behaviour

This is the peer reviewed version of the following article: Blasco, N., Corredor, P. and Ferreruela, S. (2012), Market sentiment: a key factor of investors’ imitative behaviour. Accounting & Finance, 52: 663–689, which has been published in final form at doi: 10.1111/j.1467-629X.2011.00412.x...

Descripción completa

Detalles Bibliográficos
Autores: Blasco de las Heras, Natividad, Corredor Casado, María Pilar, Ferreruela Garcés, Sandra
Tipo de recurso: artículo
Estado:Versión aceptada para publicación
Fecha de publicación:2012
País:España
Institución:Universidad Pública de Navarra
Repositorio:Academica-e. Repositorio Institucional de la Universidad Pública de Navarra
OAI Identifier:oai:academica-e.unavarra.es:2454/18651
Acceso en línea:https://hdl.handle.net/2454/18651
Access Level:acceso abierto
Palabra clave:Herding
Stock market
Behavioral finance
Sentiment
id ES_bc524e8f2cbead45b63d8645a29024f4
oai_identifier_str oai:academica-e.unavarra.es:2454/18651
network_acronym_str ES
network_name_str España
repository_id_str
spelling Market sentiment: a key factor of investors' imitative behaviourBlasco de las Heras, NatividadCorredor Casado, María PilarFerreruela Garcés, SandraHerdingStock marketBehavioral financeSentimentThis is the peer reviewed version of the following article: Blasco, N., Corredor, P. and Ferreruela, S. (2012), Market sentiment: a key factor of investors’ imitative behaviour. Accounting & Finance, 52: 663–689, which has been published in final form at doi: 10.1111/j.1467-629X.2011.00412.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.The aim of this paper is to explore herding behavior among investors in order to determine its rational and emotional component factors and identify relationships among them. We apply causality tests to evaluate the impact of return and market sentiment on herding intensity. The herding intensity is quantified using the measure developed by Patterson and Sharma (2006). The research was conducted during the period 1997-2003 in the Spanish stock market, where the presence of herding has been confirmed. The results reveal that the herding intensity depends on past returns and sentiment or subjective assessments and confirm the presence of both a rational and an emotional factor.The authors acknowledge the financial support of the Spanish Ministry of Science and Innovation (ECO2009-12819), ERDF funds, the Caja de Ahorros of the Inmaculada (Europe XXI Programme), the Government of Aragon and the Government of Navarra.WileyGestión de EmpresasEnpresen KudeaketaGobierno de Navarra / Nafarroako Gobernua2012info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfhttps://hdl.handle.net/2454/18651reponame:Academica-e. Repositorio Institucional de la Universidad Pública de Navarrainstname:Universidad Pública de NavarraInglésinfo:eu-repo/grantAgreement/MICINN//ECO2009-12819-C03-01© 2011 The Authors. Accounting and Finance © 2011 AFAANZinfo:eu-repo/semantics/openAccessoai:academica-e.unavarra.es:2454/186512026-06-17T12:41:47Z
dc.title.none.fl_str_mv Market sentiment: a key factor of investors' imitative behaviour
title Market sentiment: a key factor of investors' imitative behaviour
spellingShingle Market sentiment: a key factor of investors' imitative behaviour
Blasco de las Heras, Natividad
Herding
Stock market
Behavioral finance
Sentiment
title_short Market sentiment: a key factor of investors' imitative behaviour
title_full Market sentiment: a key factor of investors' imitative behaviour
title_fullStr Market sentiment: a key factor of investors' imitative behaviour
title_full_unstemmed Market sentiment: a key factor of investors' imitative behaviour
title_sort Market sentiment: a key factor of investors' imitative behaviour
dc.creator.none.fl_str_mv Blasco de las Heras, Natividad
Corredor Casado, María Pilar
Ferreruela Garcés, Sandra
author Blasco de las Heras, Natividad
author_facet Blasco de las Heras, Natividad
Corredor Casado, María Pilar
Ferreruela Garcés, Sandra
author_role author
author2 Corredor Casado, María Pilar
Ferreruela Garcés, Sandra
author2_role author
author
dc.contributor.none.fl_str_mv Gestión de Empresas
Enpresen Kudeaketa
Gobierno de Navarra / Nafarroako Gobernua
dc.subject.none.fl_str_mv Herding
Stock market
Behavioral finance
Sentiment
topic Herding
Stock market
Behavioral finance
Sentiment
description This is the peer reviewed version of the following article: Blasco, N., Corredor, P. and Ferreruela, S. (2012), Market sentiment: a key factor of investors’ imitative behaviour. Accounting & Finance, 52: 663–689, which has been published in final form at doi: 10.1111/j.1467-629X.2011.00412.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
publishDate 2012
dc.date.none.fl_str_mv 2012
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2454/18651
url https://hdl.handle.net/2454/18651
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv info:eu-repo/grantAgreement/MICINN//ECO2009-12819-C03-01
dc.rights.none.fl_str_mv © 2011 The Authors. Accounting and Finance © 2011 AFAANZ
info:eu-repo/semantics/openAccess
rights_invalid_str_mv © 2011 The Authors. Accounting and Finance © 2011 AFAANZ
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Wiley
publisher.none.fl_str_mv Wiley
dc.source.none.fl_str_mv reponame:Academica-e. Repositorio Institucional de la Universidad Pública de Navarra
instname:Universidad Pública de Navarra
instname_str Universidad Pública de Navarra
reponame_str Academica-e. Repositorio Institucional de la Universidad Pública de Navarra
collection Academica-e. Repositorio Institucional de la Universidad Pública de Navarra
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869418103304093696
score 15,300724

Similares en LA Referencia