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Googling Investor Sentiment around the World

Journal of financial and quantitative analysis, 2020-03, Vol.55 (2), p.549-580 [Peer Reviewed Journal]

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Title:
Googling Investor Sentiment around the World
Author: Gao, Zhenyu ; Ren, Haohan ; Zhang, Bohui
Subjects: Economics ; Financial management ; Households ; International finance ; Investments ; Investor behavior ; Investors ; Prices ; Quantitative analysis ; Search engines ; Search strategies ; Securities markets ; Sentiment analysis ; Soccer ; Sports ; Stock exchanges ; Stock prices
Is Part Of: Journal of financial and quantitative analysis, 2020-03, Vol.55 (2), p.549-580
Description: We study how investor sentiment affects stock prices around the world. Relying on households’ Google search behavior, we construct a weekly measure of sentiment for 38 countries during 2004–2014. We validate the sentiment index in tests using sports outcomes and show that the sentiment measure is a contrarian predictor of country-level market returns. Furthermore, we document an important role of global sentiment in stock markets.
Publisher: Seattle: Cambridge University Press
Language: English
Identifier: ISSN: 0022-1090
EISSN: 1756-6916
DOI: 10.1017/S0022109019000061
Source: ProQuest Central

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