The effect of Dow Jones Sustainability Index on Consumer Sentiment Index
This study intends to investigate whether stock returns affect the consumer sentiment. In particular, socially responsible companies are incorporated in the sample in order to capture the specification of socially responsible investors. For this reason, the University of Michigan Consumer Confidence...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2017-03-01
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| Series: | Investment Management & Financial Innovations |
| Subjects: | |
| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8228/imfi_2017_01_Sariannidis.pdf |
| _version_ | 1826910604223315968 |
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| author | Nikolaos Sariannidis Grigoris Giannarakis Xanthi Partalidou Bakas Evangelos |
| author_facet | Nikolaos Sariannidis Grigoris Giannarakis Xanthi Partalidou Bakas Evangelos |
| author_sort | Nikolaos Sariannidis |
| collection | DOAJ |
| description | This study intends to investigate whether stock returns affect the consumer sentiment. In particular, socially responsible companies are incorporated in the sample in order to capture the specification of socially responsible investors. For this reason, the University of Michigan Consumer Confidence Index is used as a proxy for consumer confidence, while data from Dow Jones Sustainability Index US is employed as a proxy for socially responsible companies for the period 1999-2016. The generalized autoregressive conditional heteroskedasticity model applied and illustrated that stock returns affect positively the consumer confidence. The result has important implications for investors and policy makers. |
| first_indexed | 2024-12-12T04:50:40Z |
| format | Article |
| id | doaj.art-40a8eef48fcc498cb6ea26ad02184325 |
| institution | Directory Open Access Journal |
| issn | 1810-4967 1812-9358 |
| language | English |
| last_indexed | 2025-02-17T10:01:54Z |
| publishDate | 2017-03-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Investment Management & Financial Innovations |
| spelling | doaj.art-40a8eef48fcc498cb6ea26ad021843252025-01-02T03:46:07ZengLLC "CPC "Business Perspectives"Investment Management & Financial Innovations1810-49671812-93582017-03-01141899510.21511/imfi.14(1).2017.098228The effect of Dow Jones Sustainability Index on Consumer Sentiment IndexNikolaos Sariannidis0Grigoris Giannarakis1Xanthi Partalidou2Bakas Evangelos3Professor, Department of Accounting and Finance, Western Macedonia University of Applied SciencesAdjunct Professor, Department of Business Administration (Grevena), Western Macedonia University of Applied SciencesPh.D. Candidate, Department of Agricultural Development Pantazidou, Democritus University of ThracePostgraduate student, Department of Accounting and Finance, Western Macedonia University of Applied SciencesThis study intends to investigate whether stock returns affect the consumer sentiment. In particular, socially responsible companies are incorporated in the sample in order to capture the specification of socially responsible investors. For this reason, the University of Michigan Consumer Confidence Index is used as a proxy for consumer confidence, while data from Dow Jones Sustainability Index US is employed as a proxy for socially responsible companies for the period 1999-2016. The generalized autoregressive conditional heteroskedasticity model applied and illustrated that stock returns affect positively the consumer confidence. The result has important implications for investors and policy makers.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8228/imfi_2017_01_Sariannidis.pdfConsumer ConfidenceDow Jones Sustainability IndexGARCH ModelUS |
| spellingShingle | Nikolaos Sariannidis Grigoris Giannarakis Xanthi Partalidou Bakas Evangelos The effect of Dow Jones Sustainability Index on Consumer Sentiment Index Investment Management & Financial Innovations Consumer Confidence Dow Jones Sustainability Index GARCH Model US |
| title | The effect of Dow Jones Sustainability Index on Consumer Sentiment Index |
| title_full | The effect of Dow Jones Sustainability Index on Consumer Sentiment Index |
| title_fullStr | The effect of Dow Jones Sustainability Index on Consumer Sentiment Index |
| title_full_unstemmed | The effect of Dow Jones Sustainability Index on Consumer Sentiment Index |
| title_short | The effect of Dow Jones Sustainability Index on Consumer Sentiment Index |
| title_sort | effect of dow jones sustainability index on consumer sentiment index |
| topic | Consumer Confidence Dow Jones Sustainability Index GARCH Model US |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8228/imfi_2017_01_Sariannidis.pdf |
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