Title: INVESTOR SENTIMENT, MANAGERIAL OVERCONFIDENCE, AND
CORPORATE INVESTMENT BEHAVIOR
Authors: 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 . Stein Jeremy C. Rational Capital Budgeting in an Irrational World [J]. Journal of Business,
1996, 69(4): 429-455.
. Hao Ying, Liu Xing, Lin Chao Nan. An Empirical Study on Overconfidence and investment
decision of senior executives in China's listed companies [J]. China management science,
. Polk C, and P. Sapienza,2006,The stock market and corporate investment: a test of catering
theory, Review of Financial Studies, forthcoming.
. Zhu Zhaohui, Yang Bin, Mao Suhuang, Zhang Zhijun. The level of investment to meet or
conservative investor sentiment and corporate [J]. applied psychology, 2012,03:232-238.
. Baker, M, and J. Wurgler, 2004b, Appearing and Disappearing Dividends: The Link to
Catering Incentives, Journal of Financial Economics 73,271-88.
. Wang Xia, Aman Chang, Fu Sheng. In alienation of Managerial Overconfidence and corporate investment -- from the Chinese stock market empirical evidence [J]. Nankai business
. Wen Zhonglin, Zhang Lei, Hou Tai. The mediating effect of testing and application of [J].
Journal of psychology, 2004, 36 (5): 614-620.
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.
The International Journal of Social Science and Economic Research Inviting Papers/Articles for Current Issue Volume 4 No. 02 February 2019.
Submit your Paper through Online Submission System. Authors also can Send Paper to firstname.lastname@example.org ....... IF of IJSSER is 2.173 UGC Approved (Journal No. 63200) Editor in Chief IJSSER