The unidirectional relationship between consumer confidence and PSI-20 returns - The influence of the economic cycle

The unidirectional relationship between consumer confidence and PSI-20 returns - The influence of the economic cycle

ABSTRACT The aim of this paper is to determine the relationship between market sentiment and rates of return on the main Portuguese benchmark and verify whether this relationship is influenced by different economic cycles. Given the subjectivity inherent to the use of variables capturing investor se...

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Bibliographic Details
Main Authors: Maria Elisabete Duarte Neves, Luís Miguel Aragão Duarte Gonçalves, Mario Joaquim Silva Ribeiro, Paulo Jorge Santiago Feiteira, Clara Margarida Pisco Viseu
Format: Article
Language:English
Published: Universidade de São Paulo
Series:Revista Contabilidade & Finanças
Subjects:
financial markets
behavioral finance
Consumer Confidence Index
PSI-20
economic cycle
Online Access:http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1519-70772016000300363&lng=en&tlng=en

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http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1519-70772016000300363&lng=en&tlng=en

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