Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14365/3481
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dc.contributor.authorVerma R.-
dc.contributor.authorBaklaci H.-
dc.contributor.authorSoydemir G.-
dc.date.accessioned2023-06-16T14:59:29Z-
dc.date.available2023-06-16T14:59:29Z-
dc.date.issued2008-
dc.identifier.issn0960-3107-
dc.identifier.urihttps://doi.org/10.1080/09603100701704272-
dc.identifier.urihttps://hdl.handle.net/20.500.14365/3481-
dc.description.abstractWe examine the relative effects of rational and irrational investor sentiments on Dow Jones Industrial Average and S&P500 returns. The impact of rational sentiments on stock market returns is found to be greater than that of irrational sentiments. There are immediate positive responses of stock market returns to irrational sentiments corrected by negative responses in the upcoming periods. There are positive effects of past stock market returns on irrational sentiments but not on rational sentiments. The results support the economic fundamentals-based arguments of stock returns. Evidence in favour of irrational sentiments is consistent with the view that investor error is a significant determinant of stock returns.en_US
dc.description.sponsorshipNational Science Foundation, NSF: DEB-9903802en_US
dc.description.sponsorshipWe gratefully acknowledge insightful comments, helpful discussion, and unpublished data from L. Delph and C. Caruso. One anonymous reviewer provided additional helpful comments on a draft of this manuscript. This research was supported in part by NSF DEB-9903802 to TLA.en_US
dc.language.isoenen_US
dc.relation.ispartofApplied Financial Economicsen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectfinancial marketen_US
dc.subjectfinancial systemen_US
dc.subjectinvestmenten_US
dc.subjectstock marketen_US
dc.titleThe impact of rational and irrational sentiments of individual and institutional investors on DJIA and S & P500 index returnsen_US
dc.typeArticleen_US
dc.identifier.doi10.1080/09603100701704272-
dc.identifier.scopus2-s2.0-48549088920en_US
dc.authorscopusid7402270087-
dc.authorscopusid55407588700-
dc.identifier.volume18en_US
dc.identifier.issue16en_US
dc.identifier.startpage1303en_US
dc.identifier.endpage1317en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.identifier.scopusqualityN/A-
dc.identifier.wosqualityN/A-
item.grantfulltextreserved-
item.openairetypeArticle-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.fulltextWith Fulltext-
item.languageiso639-1en-
item.cerifentitytypePublications-
crisitem.author.dept03.04. International Trade and Finance-
Appears in Collections:Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
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