Overconfidence and US stock market returns

被引：9
|
作者：
Apergis, Nicholas [1 ]
机构：
[1] Univ Texas El Paso, 500 W Univ Ave, El Paso, TX 79968 USA
来源：
FINANCE RESEARCH LETTERS | 2022年 / 45卷
关键词：
Overconfidence; Excess stock prices; Kernel canonical correlation; INVESTOR SENTIMENT; PERFORMANCE;
D O I：
10.1016/j.frl.2021.102186
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The paper aims to explore the role of overconfidence of US individuals of the personal versus the public risk against Covid-19 on excess stock returns, over the period May 2020-September 2020. Kernel canonical correlation suggests that this sentiment gap exerts a positive effect on excess returns, with high-income individuals displaying a stronger impact.
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页数：5
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