Media Sentiment and International Asset Prices is popular PDF and ePub book, written by Samuel P. Fraiberger in 2018-12-10, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Media Sentiment and International Asset Prices can be Read Online from any device for your convenience.
Media Sentiment and International Asset Prices Book PDF Summary
We assess the impact of media sentiment on international equity prices using more than 4.5 million Reuters articles published across the globe between 1991 and 2015. News sentiment robustly predicts daily returns in both advanced and emerging markets, even after controlling for known determinants of stock prices. But not all news-sentiment is alike. A local (country-specific) increase in news optimism (pessimism) predicts a small and transitory increase (decrease) in local returns. By contrast, changes in global news sentiment have a larger impact on equity returns around the world, which does not reverse in the short run. We also find evidence that news sentiment affects mainly foreign – rather than local – investors: although local news optimism attracts international equity flows for a few days, global news optimism generates a permanent foreign equity inflow. Our results confirm the value of media content in capturing investor sentiment.
Detail Book of Media Sentiment and International Asset Prices PDF
- Author : Samuel P. Fraiberger
- Release : 10 December 2018
- Publisher : International Monetary Fund
- ISBN : 9781484389218
- Genre : Business & Economics
- Total Page : 33 pages
- Language : English
- PDF File Size : 11,9 Mb
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