The DOI matches its Crossref record.
Do Investors Care about Sentiment?
Abstract
Results of recent research indicate small investor sentiment, as measured by the change in the discount on closed-end funds, is an important factor in the return generating process for common stocks. The authors find no evidence of it being an important factor in the return generating process. They next examine its impact on expected returns and whether one set of firms with high sensitivity to this factor--closed-end funds--offers, and can be expected to offer, a higher expected return. The authors' findings do not support small investor sentiment as a priced factor, either in common stocks or closed-end funds. Copyright 1998 by University of Chicago Press.
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Citations
Cited by
Investor Sentiment and the Cross‐Section of Stock Returns
BAKER, M., & WURGLER, J. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00885.x · Cited by 6,049
Investor Sentiment and the Cross-section of Stock Returns
Baker, M. P., & Wurgler, J. A. (2003) · SSRN Electronic Journal · doi:10.2139/ssrn.464843 · Cited by 1,456
Metadata
- Authors
- Elton, E. J., Gruber, M. J., & Busse, J. A.
- Venue
- The Journal of Business
- Publisher
- University of Chicago Press
- Published
- 1998-10
- Volume
- 71
- Issue
- 4
- Pages
- 477-500
- ISSN
- 0021-9398 (ISSN-L)
- 1537-5374
- OpenAlex
- W2035072243
- Cited by
- 176
- References
- 0
- FWCI
- 8.13
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Do Investors Care about Sentiment? https://app.cochat.ai/papers/10.1086/209754
- The paper
- Elton, E. J., Gruber, M. J., & Busse, J. A. (1998). Do Investors Care about Sentiment? The Journal of Business. https://doi.org/10.1086/209754
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
