Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/92488
Title: | Investor sentiment and mutual fund stock picking | Authors: | Chue, TK Mian, GM |
Issue Date: | 2022 | Source: | Applied economics letters, 2022, v. 29, no. 17, p. 1620-1625 | Abstract: | The active share of mutual funds drops significantly when investor sentiment is high, indicating that fund managers reduce their active stock selection and stay closer to their benchmarks during such periods. Our evidence is consistent with fund managers being sentiment-prone – challenging the conventional view that it is only the preponderance of retail investors during high sentiment periods that allows sentiment to influence asset prices. | Keywords: | Mutual fund Stock picking Active share Investor sentiment Stock return |
Publisher: | Routledge, Taylor & Francis Group | Journal: | Applied economics letters | ISSN: | 1350-4851 | EISSN: | 1466-4291 | DOI: | 10.1080/13504851.2021.1951440 | Rights: | © 2021 Informa UK Limited, trading as Taylor & Francis Group This is an Accepted Manuscript of an article published by Taylor & Francis in Applied economics letters on 13 July 2021 (Published online), available online: http://www.tandfonline.com/10.1080/13504851.2021.1951440. |
Appears in Collections: | Journal/Magazine Article |
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File | Description | Size | Format | |
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Chue_Investor_Sentiment_Mutual.pdf | Pre-Published version | 307.12 kB | Adobe PDF | View/Open |
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