Abstract
This study examines the effect of investor sentiment on the Vietnamese stock market. Using results of international football matches as exogenous shocks on investor sentiment and information on two major stock exchanges, we document a link between investor sentiment and stock market returns. In particular, we find a market decline on the subsequent trading days after game losses. Further, the effect of investor sentiment is more potent for small-cap stocks, during the period when the affection and attention of local fans is stronger, and when more important competitions are being played.
| Original language | English |
|---|---|
| Title of host publication | Conference Proceedings: International Conference on Business and Finance 2020 (ICBF 2020), University of Economics, Ho Chi Minh City, Vietnam, 27-28 August 2020 |
| Publisher | University of Economics, Ho Chi Minh City |
| Pages | 14-14 |
| Number of pages | 1 |
| ISBN (Print) | 9786043010282 |
| Publication status | Published - 2020 |
| Event | International Conference on Business & Finance - Duration: 1 Jan 2020 → … |
Conference
| Conference | International Conference on Business & Finance |
|---|---|
| Period | 1/01/20 → … |
Keywords
- stock exchanges
- stockholders
- dividends
- soccer
- Vietnam