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| Content Provider | IEEE Xplore Digital Library |
|---|---|
| Author | Shi Jinyan Li Yan Li Yanxi |
| Copyright Year | 2011 |
| Description | Author affiliation: School of Economics, Dalian University of Technology, China (Shi Jinyan; Li Yan; Li Yanxi) |
| Abstract | Based on behavioral finance theory, data of the SME board of non-financial listed companies in Shenzhen Stock Exchange from 2006 to 2009 is selected. This paper empirically analyzes the influences of investor sentiment on enterprise investment behavior and economic consequence conclusion is different from the existing literature: the relationship between investor sentiment and the enterprise investment behavior is negative when proxy for investor sentiment; the relationship between investor sentiment and the enterprise growth, one of the economic consequence, is U-shaped relationship. In addition, listed company's annual Tobin's Q Ratio regression residuals are used to measure the stock mis-pricing. From the perspective of non-equilibrium price to define and measure investor sentiment, further test the above-mentioned conclusions and obtain similar results. |
| Starting Page | 778 |
| Ending Page | 781 |
| File Size | 64138 |
| Page Count | 4 |
| File Format | |
| ISBN | 9781612841083 |
| e-ISBN | 9781612841090 |
| DOI | 10.1109/ICBMEI.2011.5917052 |
| Language | English |
| Publisher | Institute of Electrical and Electronics Engineers, Inc. (IEEE) |
| Publisher Date | 2011-05-13 |
| Publisher Place | China |
| Access Restriction | Subscribed |
| Rights Holder | Institute of Electrical and Electronics Engineers, Inc. (IEEE) |
| Subject Keyword | Investments Growth Finance Companies Investor sentiment Investment behavior Mathematical model Stock markets Behavioral finance |
| Content Type | Text |
| Resource Type | Article |
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