International Journal of Social Science & Economic Research
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Title:
INVESTOR SENTIMENT, MANAGERIAL OVERCONFIDENCE, AND CORPORATE INVESTMENT BEHAVIOR

Authors:
You Haixia

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You Haixia
Nanjing University of Aeronautics and Astronautics, China

MLA 8
Haixia, You. "INVESTOR SENTIMENT, MANAGERIAL OVERCONFIDENCE, AND CORPORATE INVESTMENT BEHAVIOR." Int. j. of Social Science and Economic Research, vol. 3, no. 3, Mar. 2018, pp. 858-868, ijsser.org/more2018.php?id=59. Accessed 2018.
APA
Haixia, Y. (2018, March). INVESTOR SENTIMENT, MANAGERIAL OVERCONFIDENCE, AND CORPORATE INVESTMENT BEHAVIOR. Int. j. of Social Science and Economic Research, 3(3), 858-868. Retrieved from ijsser.org/more2018.php?id=59
Chicago
Haixia, You. "INVESTOR SENTIMENT, MANAGERIAL OVERCONFIDENCE, AND CORPORATE INVESTMENT BEHAVIOR." Int. j. of Social Science and Economic Research 3, no. 3 (March 2018), 858-868. Accessed , 2018. ijsser.org/more2018.php?id=59.

References
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Abstract:
In this paper, the nonferrous metals industry as an example, based on China's Shanghai and Shenzhen A shares markets of listed companies in 2008 and 2015 data, we investigate the influence of investor sentiment on corporate investment behavior from the perspective of behavioral finance and the role the managerial overconfidence may play in. The empirical results show that investor sentiment is positively related to the level of corporate investment, and also positively correlated with managerial overconfidence. While the investor sentiment influences corporate investment behavior, part of it is influenced by managerial overconfidence. This provides us with a useful reference to the transmission mechanism of the stock market sentiment from the micro perspective of the enterprise.