Αισιοδοξία επενδυτών και αποδόσεις μετοχών
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Keywords
Συναίσθημα του επενδυτή ; Συμπεριφορική χρηματοοικονομική ; Μελλοντικές προσδοκίες ; Κεφαλαιαγορά ; Μετοχές ; Χρηματιστηριακή αγορά ; ARDL ; Ανεργία ; Δείκτης τιμών καταναλωτήAbstract
This paper examines whether macroeconomic variables such as unemployment, the consumer price index and investor sentiment affect the course of the S&P 500. An analysis is performed with the ARDL co-integration method and incremental stagnation (ADF) and error correction (EMC test) tests are performed. It analyzes the reasons for incorrect pricing of assets, such as stock market securities, and how these errors are corrected. Emphasis is also placed on behavioral finance and how it ultimately greatly affects financial markets. The types of stock market investors and the incentives by which they are held and influence the markets are explained.