Googling investor sentiment around the World

Zhenyu Gao, Haohan Ren, Bohui Zhang

Research output: Contribution to journalArticlepeer-review

11 Citations (Scopus)

Abstract

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.
Original languageEnglish
Pages (from-to)549 - 580
Number of pages32
JournalJournal of Financial and Quantitative Analysis
Volume55
Issue number2
DOIs
Publication statusPublished - Mar 2020
Externally publishedYes

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